G'day Zac,
Unith decided 4 years ago, Under the vision of Stephen, to pivot a 'has been' company which was rudderless and aim for something that at the time no one was talking about.
Fast forward to today,
We now have interFace, and it is live.
We have probably $3M AUD left in the bank.
We will likely see a quarterly return of over $1M AUD from the legacy business plus any interFace revenue, which i expect to be minimal, within a few weeks.
We are currently in 'Launch Mode' where we are spending money very carefully to target our marketing. Going off WordPress alone we can see the downloads are happening and represent approximately 40% of all websites. This weekend we will hit 500 WordPress downloads, as an expression of 40% of websites we can estimate a total of 1250 downloads for users who want website integration specifically.
Separately Rakan stated above 30% use rate for video production, a use that does not require self hosting on a website.
So if 30% of our customers don't need a website we could expect approximately another 600 users just for video production.
Those figures see us at approximately 2000 current donwloads. And a mystery amount of subscriptions.
Now a product like ours isn't comparable to other subscription services, once you've invested in setting up your army of digital humans you will be less likely to change to a different company using different tech unless it held a substantial benefit over your current holding.
If Unith continually iterate the performance and offerings then we will keep our subscribers satisfied.
This is why I believe Rakan is taking the slow marketing approach, the more our product improves the higher the retention rate.
We have one big upgrade to come which could be added today though Rakan is concerned of some poorly built clones with Unith's brand embossed on it. So his team is working on improving this feature before it's bolted on.
I know i give long winded answers but I prefer you understand my mindset rather than a random thought with no substance.
So as at today we have more than enough cash to take our time with marketing to get us to Christmas and maybe even Feb 2025 before we would need another CR.
However that is assuming we have absolutely no growth in either our legacy or interFace.
Our subscription business isn't being pumped up, it's been pruned and fertilised to return a profit, small crew burning nothing to bring in the bulk of our revenue so far. It's becoming more reliable and very profitable through clever management of priorities.
Our efforts and hope for a Disallowed now remains trapped in the success of our interFace platform.
I did a comparison of legacy chatbot companies earlier this year where I looked at the number of separate companies who provided chatbot technology and what they were all worth. There were tens of them with the smallest Market Cap being around $100M USD.
People assume everyone goes for the most expensive or the cheapest or the best performing, the truth is, once chatbot tech reached it's peak, all of the players quickly caught each other and their offerings became so similar that it wasn't worth the effort to change brands for their subscribers.
You can see similar psychology with cars, electronic brands etc. People just want a solution that works for them at the time they first decided they needed it.
If you accept everything I say as being reasonable then you have to agree that whatever our subscription conversion rate is it will only improve with time.
Our growth is now completed tied to paid subscriptions.
I would suggest the board are busy working on this exclusively now.
I am confident that our potential is significantly above that of other Ai startups, our product is basically ready with some improvements to come. Our board have a huge team who are being paid to make this a reality.
Unith now have a heap of full time staff who depend on our company to provide for their families. They have a vested interest, more so than most investors frankly, in Unith being successful.
The Ai hype, like all hypes, causes confusion amongst investors and users, everyone is scrambling to invent the next big product and short of the big tech players there has been little by way of useful Ai tech delivered to the market, especially for non technical users.
We have a huge advantage in that we already have an Ai offering.
The question you should be asking is, Do you believe that people will adopt digital human technology as mainstream going forward?
If you believe they will then you couldn't have a better holding.
If you think digital humans are a fad and we will have something completely different attract the market, then Unith is a disaster about to happen.
I'm betting on digital humans becoming as big as the experts predict. And i hope we can finish with a substantial slice of that pie.
MMM
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