11/26/2022 0 Comments Amit ben cloudtag![]() We now have specialists in product development, industrial design, user interface, manufacturing, sales, branding and marketing. We are delighted with the progress made in recruiting a highly reputable in-house team. It should be noted that CloudTag's customer is Second Chance who then on sell to the retailers and etailers. Alongside these discussions, Second Chance is continuing discussions with potential customers in order to build the order book for H2 2016 and beyond. Also as previously announced, Second Chance is currently discussing the award of an exclusivity period with three potential major retailers/etailers in the UK. We have arranged for stock to be airfreighted directly to our distribution partners' warehouses.Īs previously announced, we entered into an agreement with Second Chance, a specialist distributor of sports related technology and accessories, in January 2016. The new manufacturer is capable of meeting our anticipated production needs for the foreseeable future. #Amit ben cloudtag updateOur first product was launched at the CES 2016 and since then product development for our first generation wearable fitness tracker has been completed.ĬE & UL marks for the product, which confirm the product meets EU and USA health, safety and environmental requirements were obtained at the end of 2015 and more recent product developments have also conformed to these product standards.įollowing on from the Company's operational update on the 16 June 2016, the Company has now completed its switch to a high volume manufacturer in Malaysia. Operational Update and Placing to Raise £500,000ĬloudTag (CTAG:LN), the company that brings personal monitoring to the weight loss, wellbeing, fitness and digital health markets is pleased to announce an operational update and a placing to raise £500,000 net of expenses.Ģ016 has, to date, been an extremely active year for CloudTag. Headline Operational Update and Placing to Raise £500,000 I'm not a holder her and have had my say so won't post anymore. Post QPP (which I hold and where, with the benefit of hindsight, the shorters had a point) and Globo (which I sold out of after critically analysing some of the short side research), I am more receptive to these research pieces than before but, as ever, you need to form your own view as they can be wrong. Alternatively, there may be acceptable explanations for the change. There are a number of legal and commercial reasons why they would take such a step. The inference from the article is that management wanted to avoid being in situ in the event an insolvency event occurred with the UK entity. I can't see how this change of directorship has any link to a potential acquisition of Cloudtag by a Nasdaq listed company. It is not a "new entity".Īll that has changed is that certain key management resigned their directorships at the UK registered operating subsidiary and were replaced by one individual, who seems to have links to management, and who seems to be appointed as director of other companies they are involved with shortly before they go into liquidation. The company that listed was Cloudtag Inc - the Cayman company ( ). The post suggests that there has been some change of company structure to make the company more attractive for acquisition by a NASDAQ registered company. On the contrary, you need to be entirely solvent to incorporate yourself in this manner.Ĭlick to expand.This LSE post makes no sense at all to me. It has nothing to do with a company about to go bust or any such nonsense. Being a UK registered LTD company doesn't tick the boxes here for a US-held potential owner - and the move to an incorporated company in the Caymans is an indicator that Cloudtag is up for acquisition imminently, so have restructured accordingly, appointing a holding Director for the old entity to help close up shop. Similarly, the BoD need to be positioned to ingest a large amount of cash in a tax efficient way. This is typical behaviour of an organisation preparing for acquisition by a NASDAQ-listed entity, whose accounting rules are very stringent and will require the acquisition target to be aligned legally and financially, to simplify a take-over. Im somewhat amused by the negative spin being put online regarding the voluntary exit of the BoD from Cloudtag Active Ltd to a clean company structure incorporated in the Caymans, Cloudtag Inc. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |