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In tandem with the detailed work to develop the technical capabilities of the product, we have explored opportunities to identify potential markets for our products to seek out niche areas where our technology will stand out from the established operators in the general wearable technology markets. The Company has filed several more patent applications and design registrations and design patents to protect the intellectual property developed by the group. We have developed many proprietary algorithms including but not limited to heart rate, ECG energy expenditure and activity recognition. Detailed R&D has focussed effort on embedded systems electronics and underlying algorithms and we have also undertaken technical work on production and manufacturing processes. The Company is determined to ensure that the product's performance marks a step change to other available devices. The Board is aware that there has been investor frustration that the Company did not release its product to the retail market during the year.
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This work built upon the technical achievements on the underlying technology during 2015 where third party testing underpinned technical accuracy. I am pleased to report that the product development effort throughout 2016 resulted in the launch of Onitor, our new brand identity. I am very proud of what the growing team has achieved both in terms of product development and progress to mass manufacture as well as the commercial and operational aspects of the business. The 12 months since our last annual report has been one of rapid progress and development for the Company but has also presented its own challenges. On behalf of the Board, I would like to thank all of Cloudtag's employees and consultants for their commitment and hard work, and other stakeholders for their continued support. The Company will continue its operations as a private company and the Board will continue to drive the Company forward and will seek a return to listed status, in due course. Accordingly, under AIM Rule 1, the Company's shares will be delisted from the AIM market at 7 a.m.
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On 27 February 2017 the Company announced that its Nomad, Cairn, had tendered its resignation and the Company has not appointed a replacement. In constructing this infrastructure the Company has recruited a formidable team of experienced experts in a wide range of fields.Īt the same time that we have been creating this operational base, the management team has developed extensive corporate governance policies, processes and procedures to ensure that the Company is able to meet and exceed its corporate responsibility obligations.
Cloudtag inc. software#
The team at Cloudtag has worked hard to push forward not just the headline development of the Company's first product and related software but have also built the foundations necessary to ensure that the manufacturing supply chain can meet anticipated demand and the distribution network can provide access to all potential customers in our target markets. The past year has been one of significant progress.
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('CloudTag', 'the Company' or 'the Group')įinal Results for the year ended 30 September 2016ĬloudTag Inc (AIM:CTAG.L), the company which develops personal performance monitoring for the consumer health, wellbeing and fitness markets, announces its final results for the year ended 30 September 2016.