Iq-ai Share Discussion Threads

[hazl] 17/5/2019 15:56

'IQ-AI Ltd has made the first sale of its Imaging Biometrics ("IB") software to South Korea. The company's distributor, Korea Computer ISG has sold a suite of Imaging Biometrics neuroradiology software to Haeundae Paik Hospital in Busan, South Korea. This will be installed in March 2019. The sale comprises IB's latest offering of IB Server (IB Neuro, IB Delta Suite, IB Diffusion and IB DCE, IB Rad Tech plug in)'

[hazl] 17/5/2019 15:55

Yes and back in February Imaging Biometrics got an order and sale from Korea.

[hedgehog 100] 17/5/2019 15:31

Hazl,

I agree that IQAI isn't a smaller version of PRSM, which could be hard to compete against for a smaller company, but they are both AI plays, of which there aren't that many.

And they are both benefitting from the trend towards introducing their products.

From the Flying Brands (now IQAI) prospectus last August:

"Flying Brands Limited prospectus
1 August 2018

SUMMARY

... 3. Current operations / Principal activities and markets

The Company

The Company is the holding company of Stone Checker Ltd and Imaging Biometrics LLC and is operating in the AI medical imaging market.

The Group has developed the following technology solutions;

1. The StoneChecker Software aims to be the standardised medical imaging software for urolithiasis by virtue of it analysing and presenting relevant / important stone metrics including stone size, volume, density, skin to stone distance and novel stone architecture via TexRAD texture analysis in a seamless manner and integrated within healthcare IT systems.

2. Imaging Biometrics, LLC based in Wisconsin, specialises in the design and manufacture of advanced visualisation tools, the application of machine learning and AI software solutions and the invention, development and clinical testing of quantitative imaging endpoints and biomarkers. The Imaging Biometrics portfolio consists of FDA cleared and CE marked products such as IB Neuro and IB Diffusion.

(CE marked StoneChecker Software and the existing FDA cleared, and CE Marked portfolio of products from Imaging Biometrics being together, the “Products”).

4. Significant trends affecting the Group

• There is a worldwide shortage of trained radiologists and a growing workload for radiologists due to the increased availability of CT, MRI and Molecular Imaging equipment in all healthcare systems across the world and the growing clinical evidence supporting early and more accurate diagnosis of diseases and pathologies. This is driving the search for automated or enhanced software solutions.

• There is an increasing recognition that computer software has advantages over humans in terms of consistency and reproducibility.

• There has been an increased connectivity between various departments in hospitals and between various hospitals in terms of sharing examination data and results. There is a growing trend to make all such examinations for a patient available on a highly secured cloud-based platform, from where any authorised physician treating the patient can access all past and present medical imaging and reports securely.

• The continuous development of increased computer processing capability is making it possible to rapidly analyse large imaging datasets and produce quantitative data which can be used for clinical decision making.

• There has been a global increase in health care spending. ..."

[hazl] 17/5/2019 15:03

Sorry hedgehog have been working a lot recently.
Not so much time for the boards.
Yes I do hold a few here and PRSM.
I don't really think the two can be compared though.
For me the FDA approval will be the decider one way or another with this company.
Wait and see mode!

[hedgehog 100] 17/5/2019 13:48

There's a type of curious synchronicity between these two AI stocks IQAI & PRSM.

There are some examples in my posts here yesterday.

But another is IQAI's plan is to deliver revenues of $20M. to $30M. annual within the next few years on existing products but double that with ‘planned’; products.
I.e. $60M. annual sales.
Or £46.875M. at current exchange rates.
(1 Pound sterling equals 1.28 United States Dollar.)

Which isn't that far short of PRSM's current annual revenue of £55.2M.

And in view of IQAI's David Smith's track record this plan has to be taken seriously.
(He sold his last company for $178M., and before that played a leading role in driving sales at Biocompatibles from 0 to over £40M. Biocompatibles was acquired by BTG in 2010 for £177M.)


So you wouldn't think that one of these stocks could be valued at about a thousand times the other.

Or indeed that the higher market cap. stock would be listed on the 'risky' AIM market, whereas the lower one is listed on the 'safer' main market!

[hedgehog 100] 16/5/2019 19:48

An interesting observation from the AI thread:

tomboyb 25 Sep '17 - 16:42 - 32 of 138
"Thanks for the linkx CHAPS -
Some interesting read and without doubt a big future ahead here for AI -
Not may AI stocks out there however -"



The lack of AI stocks helps to explain PRSM's stellar rise ... and should help IQAI's.
A simple case of supply and demand.

Two exciting stocks: one is £1.4 billion, while one is £1.4 million ... at the moment.

[hedgehog 100] 15/5/2019 17:52

About 90 percent of drugs that reach clinical stage development never make it to FDA approval and commercialisation.

Similarly, global energy consultant Wood MacKenzie has calculated the historical odds of a company making a commercial discovery from a frontier exploration well as less then one in 10.

Fortunately for IQAI, the odds on gaining FDA approval for a medical device are the polar opposite of the above: more like a 90% chance of SUCCESS! And that's for medical devices in general.

And in the case of IQAI's StoneChecker in particular, I think that we're now past the stage where it could fail. The main hurdles seem to have been crossed, and I think that we're now effectively at the stage of 'dotting i's and crossing t's'.

That's why I think that the market is mispricing IQAI at the moment, at a paltry 1.2p. It's factoring in real fear of FDA failure, when in reality that isn't justified.

Still, at least that means that the rise at approval should be even bigger than otherwise, and I fully expect IQAI to top the leader board when that happens.

And even that should just be for starters, triggering a period of share price momentum upwards, and business advances.



As regards the timing, I think that the FDA approval could now come at any moment.

A few years ago, an eight-year study of FDA 510(k) review practices was published.
The study looked at over 24,000 510(k) medical device submissions cleared between January 1, 2006 and December 31, 2013.
One of the findings was that:
"Almost two out of threel [sic] 510(k) applications are cleared within six months."

[hedgehog 100] 15/5/2019 16:55

Maybe they haven't noticed that this is a main market share!

The short term trading gang will be back though, and they tend to attract some longer term holders too, by highlighting the opportunity.

[hulk2004] 15/5/2019 15:50

It appears everybody who bought in 2 weeks ago are selling! AIM 2 weeks is long term lol. Next month in June should see FDA approval hopefully,TB loan notes over £500k so only way he will get his cash is if this succeeds over next 12-18 months, he must be confident!

[hazl] 14/5/2019 15:21

I don't usually invest in health sector,even though it is in Schwartz outperform category,still.
About the only sector too, when I last looked.
Of course there are good and bad investments within that space and more stable and speculative and so on.
However this and TEK I have a toe in.
Thanks again for your posts,I do hope this works out not just for us but for the patients too!

[hedgehog 100] 14/5/2019 15:05

Thanks Hazl.

I note that the AI investment excitement is continuing apace:

" ... May 11, 2019 at 3:00PM
The global artificial-intelligence (AI) market should grow at a compound annual rate of 55.6% between 2018 and 2025, according to a forecast by Allied Market Research, as a wide range of industries use the technology to streamline and improve their businesses.
However, AI is such a hot buzzword in tech circles that it can be tough to identify the industry's most worthy long-term investments. ..."


Is there a hotter area in investment right now? And this one really seems to have legs ... which is clearly great news for IQAI.


If an investment 'story' is exciting enough, then investors will be falling over themselves to invest, as great investment opportunities don't grow on trees. And there is actually a vast amount of investment funding out there looking for a home.

So a desire for investment funds can be very easily fulfilled in such cases.

Conversely, problems with a company's business model may be less easily fixed ... or even be insolvable.

[hazl] 13/5/2019 12:23

thanks hedgehog.......very informative to anybody new and a good reminder.

[hedgehog 100] 12/5/2019 12:53

The 'gang of four' top management at IQAI is a veritable dream team of talent and ability:

Trevor Brown, CEO of IQAI


David Smith, Chief Operating Officer and CEO of the group's two operating businesses, StoneChecker Software and Imaging Biometrics

Nick Stevens, CEO of Stone Checker Software Ltd


Michael Schmainda, CEO of Imaging Biometrics



And all four have invested significant sums into Flying Brands / IQAI within the last few/several months ... at a price of 2p per share or more:

11/09/2018 07:01 UK Regulatory (RNS & others) Flying Brands Limited Director/PDMR Shareholding
"Flying Brands, the parent company of StoneChecker(R) and Imaging Biometrics(R) focused on advanced and state of the art medical software and services, was notified on 10 September 2018 that David Smith, CEO to the Operating Subsidiaries of the Company, acquired 1,000,000 ordinary shares in the Company on 10 September 2018, representing 0.83% of the Company's issued share capital, at a price of 2.48 pence per share."


11/09/2018 09:00 UK Regulatory (RNS & others) Flying Brands Limited Director/PDMR Shareholding
"Flying Brands, the parent company of StoneChecker(R) and Imaging Biometrics(R) focused on advanced and state of the art medical software and services, was notified on 10 September 2018 that Nick Stevens, CEO to Stone Checker Software Ltd, acquired 1,200,000 ordinary shares in the Company on 10 September 2018, representing 1% of the Company's issued share capital, at a price of 2.5 pence per share.
Previously to this notification, Mr Stevens held 2,000,000 ordinary shares in the Company. Therefore Nick Steven's total shareholding represents 2.66% of the Company's issued share capital."


11/03/2019 07:00 UKREG IQ-AI Limited Issue of Convertible Loan Notes
"IQ-AI is pleased to announce that the Company has issued GBP268,500 in nominal amount of 6% unsecured convertible loan notes 2024, convertible into 13,425,000 ordinary shares of 0.1p each in the Company ("Ordinary Shares") at a price of 2 pence per share ("CLNs"). The funds raised as a result of the issue of the CLNs will be used to provide additional working capital for the Company. The funds raised enables the Company to fully execute its current business plan and shareholders should take comfort that the Company is now able to fully execute its current strategic objectives, following this, initially, non-dilutive fundraise.
Trevor Brown, Chairman of the Company, has subscribed for GBP250,000 of the CLNs and Michael Schmainda, Chief Executive Officer of the Company's 100% owned subsidiary, Imaging Biometrics LLC, has subscribed for GBP18,500 of the CLNs. ..."


(IQAI's March 2019 fundraising conversion price of 2p was at a massive premium (56.86%) to the then IQAI share price (1.275p).)


This sort of management 'cluster investment' into a share is a very bullish indicator, as it is a terrific vote of confidence in the company and its value.

[hedgehog 100] 12/5/2019 11:56

13/03/2018 07:40 UK Regulatory (RNS & others) Flying Brands Limited Acquisition of Imaging Biometrics
"Further to the announcement on 8 February 2018, Flying Brands Limited (AIM: FBDU) the medical services and software company, is pleased to announce that it has acquired 100% of the membership interests in Imaging Biometrics, LLC ("IB") (the "Acquisition"). The consideration comprises cash of $68,134 and 11,000,000 ordinary shares in Flying Brands at GBP0.04 per share ("Shares"), with an option for Flying Brands to pay a cash equivalent rather than issuing Shares. An initial tranche of 4,800,000 Shares in Flying Brands will be issued to the shareholders of IB immediately (the "Initial Tranche") and it is intended that the remaining 6,200,000 Shares will be issued before 30 September 2018. The consideration must be satisfied in full on or before 30 September 2018. In addition, Flying Brands is paying an additional $75,000 to settle certain of IB's debt obligations. ...
Trevor Brown, Flying Brands CEO said: "The acquisition of IB represents a major strategic move for Flying Brands. North America is the largest medical market in the world and with the acquisition of IB provides not only immediate access to that territory but also to a very high level of technical expertise for the development of new products and services. Our strategy to establish Flying Brands as a leading provider of convenient, cost-effective and clinically superior treatment to patients suffering from kidney stones, cancer and strokes based on proven technologies, will move forward significantly with this acquisition. IB's management team are well known to us and share our vision of introducing disruptive technology - that will change cost models - to fast growing cancer and stroke treatment markets."
Michael Schmainda, CEO of IB, said: "We are pleased to have found partners who not only understand the technology we have developed but also the path to commercialisation of the applications of that technology. Together with Flying Brands, we look forward to continuing the development of our cancer and stroke diagnostic technology and launching the resulting new products in global markets." ..."



Since the start of 2018 Trevor Brown has demonstrated his company-building abilities at Flying Brands / IQAI in two major ways:

1. The acquisition of US company Imaging Biometrics (complete with founding CEO) in March 2018.
(For £440,000 in shares at 4p per share, and $68,134 cash.)

2. The appointment of David Smith (who sold his last company for $178M.) to an 'umbrella role' over StoneChecker Software and Imaging Biometrics.
(Both of which subsidiaries also have their own CEOs, i.e. Nick Stevens and Michael Schmainda respectively).

There's always a risk that acquisitions (especially abroad) and appointments don't work out, but these two look to have bedded in nicely.


Acquiring a US company of IB's calibre and suitability was a masterstroke, and should prove to be invaluable in accessing the multi trillion dollar US healthcare market.

While David Smith's track record does nothing but inspire confidence.


But it's not enough to simply have a great investment 'story': you have to be able to effectively get the message out to investors, as communication is an important part of fundraising.

Fortunately, Trevor Brown's skills in this area seem to be first class as well.

[hazl] 10/5/2019 10:48

GED5 and very good luck to you in your investments!

[ged5] 10/5/2019 10:40

Sorry I misunderstood.

The 4 points were the 4 questions I had. I found the answer to No 2. T. Brown answered No.3, he didn't answer No.1.

No. 4 was asked to FDBK but they don't answer.

Good luck

[hazl] 10/5/2019 10:35

Useful nonetheless.

[hazl] 10/5/2019 10:33

Sorry I meant questions to Trevor Brown in IQAI interest.
But I understand your chosen stock is FDBK and thank you for your trouble.
I've vague memories of you helping out before thanks.

Things no doubt will be clear in the fullness of time.
June is not far away. 8-)

[ged5] 10/5/2019 09:50

This was post 750 on the FDBK thread in reply to LR2:-

Your figures for the accounts for 2017 and 2018 are correct. However the assets and liabilities could have several interpretations. I'll ask one of my daughters who is an accountant if she can shed any light on this.

I see that in May 2016 FDBK agreed to sell its 50% equity interest in Stone Checker Software Ltd ('Stone Checker') to Free Association Books Limited, a company connected to one of Feedback's directors, Trevor Brown, for a cash consideration of £46,000 (the "Disposal").

Then in June 2017 8,000,000 ordinary shares of £0.01 each in the capital of the Company (the Consideration Shares) to the shareholders of Stone Checker Software Limited (the Target) in connection with the acquisition by the Company of the Target (the Acquisition). I've seen elsewhere the share price was 3p.

I'm not sure who held the other 50% at this time.

I must admit I'm not really interested in IQAI other than:

1. How much royalties FDBK receives on any sales of Stonechecker
2. What are the circumstances where TexRAD may terminate this agreement
3. Can Stonechecker receive FDA approval before Texrad
4. If Stonechecker receives FDA approval will it improve Texrad's chance of approval?

Answer to No. 2:-

TexRAD Limited is entitled to terminate the Patents Licence if:

(1) it is determined by an expert that the Target has without legitimate reason failed to use diligent and reasonable efforts to develop and commercially exploit the TexRAD Plug-in;

(2) the Target is in material breach of the Patents Licence and such breach is not remedied, if capable of remedy, within 30 days; or

(3) if the Target becomes insolvent.

The Patents Licence requires the Target to pay TexRAD Limited royalty payments. Accordingly, if the Target failed to meet these payments and failed to remedy this breach within 30 days, and this was determined to be a material breach of the Patents Licence, TexRAD would be entitled to terminate the Patents Licence. Accordingly, a key risk is that the Patents Licence is terminated.

[hazl] 10/5/2019 09:38

What were the rest of your questions?
If I might be so bold?

[hazl] 10/5/2019 09:37

I have welcomed the recent revelations.
Looks like it's all down to the FDA for now anyway!

[hazl] 10/5/2019 09:26

Thank you Ged!

Sometimes the only way to get the answer!

[ged5] 10/5/2019 09:09

There was an overlap of interest with Stonechecker between FDBK and IQAI. There were some questions for which I wanted the answers.

One of those questions was whether Stonecheckers FDA approval was dependent on Texrad gaining approval.

Earlier this week I tried emailing IQAI but the emails were not sending. I tried again yesterday.

In the early hours of this morning I received the reply:-

"Stonechecker approval is not related or dependant on any other application including any by Texrad"

Thank you Mr Brown for taking the time to reply.