Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I am not an expert on the intracies of technology and so I often seek outside advice when my speciality (sniffing out AIM frauds) comes into contact with tech. And thus I asked an expert to review the dynamite CES video on Cloudtag (CTAG) we published yesterday. The expert watched it and wrote:
Having watched the video I have the following observations:
· The “tangible” component of the end to end solution is the onitor track
· The “engine” of the end to end solution is the app
· Numerous references to the proposed functionality of the app were made, for example:
o Background library of exercises
o Rich media representations of the exercises
o The ability to preview exercises
o Having the app in front of you while exercising
· First thoughts are, for example:
o Have the videos been recorded? And by whom?
o Are the videos streamed or resident on the device?
o If they are resident on the device how much space do they need and are they updated?
o If they are streamed then presumably you will need a network connection?
o If a third party has recorded the videos how much of the monthly subscription will be used to pay royalties?
o Can you watch the video at the same time that the onitor device is sending real time data to the companion app?
· The reason I make the above points is not to criticise but to emphasise that the end to end solution is heavily reliant on the app and I would therefore have expected that to be available for demo otherwise it gives the impression that it’s still in the concept / early design phase
· I’ve been on the receiving end of pitches like that (and given them!) and the biggest issue the technical team have to wrestle with is this:
· Software is an extremely intangible concept unless it’s in front of you
· End users and even executives tend to focus on the hardware element
· … which leaves the development team in the unenviable position of having to rapidly develop software that’s been sold in concept, and it’s this phase of a project where things tend to go wrong … “we’ve told the customer base and our leadership team the software will do XYZ, so make it happen!”
I have no view whatsoever regarding the maturity of the app (i.e. stage of development), I simply make the point that (in my opinion) given the app is at the heart of the solution it should be front and centre of the demo and not talked about in conceptual terms; it’s the critical component of the end to end solution.
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