![]() The Company previously announced (most recently on 7 December 2016) that it has received an indicative, non-binding order from Second Chance for GBP880,000 which was subject to manufacturing and delivery date being agreed ("Indicative Order"). Given the importance of CES in demonstrating interest from retailers in the product and applying a cautious approach to managing the Company's working capital, the Board has decided to delay its instruction to commence the manufacture of significant amounts of stock until firm orders are received from retailers and distributors. Production has also commenced of a modest order to ensure stock availability for CES at which the Company is exhibiting in January 2017. To date, a small number of units of the Company's latest product have been produced for demonstration and marketing purposes. Website users will be able see images of the product which the Company will be exhibiting at the CES in January 2017. The Company's website has a countdown page indicating this. The Company plans to announce the brand name under which its first product will be marketed tomorrow. ![]() Nemesis is not committed to make any sales under the agreement and there is no guarantee that the Distribution Agreement will lead to any sales. ![]() The Distribution Agreement is intended to complement the distribution rights granted to Second Chance Limited and CITIES. In addition, the Company is issuing a clarificatory statement relating to the notification dated 9 December 2016 regarding the conversion of L1 loan notes.įurther to the Company's announcement of 5 December 2016, the Company announces that on 7 December 2016 it entered into a distribution agreement with Nemesis Limited ("Nemesis") ("Distribution Agreement"), a UK based company which specialises in the distribution of wearable and automotive technology accessories. The update includes information on distribution, manufacturing, new brand name, corporate reorganisation undertaken earlier in 2016, working capital and exercise of warrants. I look forward to our continued collaboration and to future product development.Update, Exercise of Warrants and Restoration of TradingĬloudTag (CTAG:LN), the company that brings personal monitoring to the wellbeing, fitness and digital health markets announces a trading and corporate update further to the notification of 7 December 2016. "This is underscored by the results of the collaboration, and in particular, the accuracy of imec's algorithms to retrieve physiological parameters which provides us with a unique selling point. "I am extremely pleased with this collaboration with imec, as I believe this firmly validates the joint work we are doing and the future of our relationship," commented Amit Ben-Haim, CloudTag CEO. "Our collaboration with Cloudtag is an exciting example of how imec's technology can support the industry in realizing the next generation of wearable devices." These sophisticated wearables can support doctors in diagnosis and follow-up of illnesses, and they offer a huge opportunity in illness prevention by serving as a virtual personal coach," stated Chris Van Hoof, program director of imec's wearable health program. "Imec and Holst Centre develop ultra-small low-power, high-quality sensors and specialized algorithms that turn data into valuable knowledge, paving the way to next generation wearables that offer medical quality data monitoring in a frictionless way. Cloudtag Track gives immediate, accurate and personalized feedback on one's lifestyle, enabling the individual to put unhealthy habits into perspective while persuading lifestyle changes to adopt healthier diet and activity habits. Imec's algorithm accurately recognizes activity, measures energy expenditure, heart rate and other physiological data.Ĭloudtag Track can be tailored to match different needs and blends reliable technology with frictionless usability to improve the user experience and to help increase adoption. The light and ultra-small device integrates imec's proprietary algorithm that retrieves physiological parameters with an exceptionally high level of accuracy. The Cloudtag Track stands out among other wearable devices due to its unique combination of high user comfort with unparalleled data quality. At CES 2016, CloudTag has launched the Cloudtag Track, its first wearable multisensor device. Within the framework of their collaboration, imec develops algorithms for CloudTag's wearable sensor devices that enable accurate monitoring of physiological parameters.
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