MyFiziq announces integration of BCT and Active8me

|

Published 04-MAY-2020 10:30 A.M.

|

2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

In addition to last week's definitive agreement negotiated with Active8me Pty Ltd, MyFiziq Limited’s (ASX:MYQ) 50% owned joint-venture partner Body Composition Technologies Pty Ltd (BCT), has now signed definitive agreements with Active8me Pty Ltd, which will see the integration of the BCT platform into the Active8me health and wellness platform.

The agreements are identical in nature with the exception of the differing business verticals as BCT operates in the insurance, medical and government research segments.

The BCT Commercial Contract is the main commercial agreement between the parties pursuant to which BCT agrees, inter alia, to grant a licence to Active8me to use BCT’s licensed software development kits and related intellectual property to integrate them into the Active8me platform/technology.

In return, Active8me has agreed to pay certain user fees, data storage fees, support fees and incidental support fees to BCT.

The BCT Software Development Kit, End User License Agreement, BCT Support Agreement and BCT Data Processing Agreement are support agreements related to the BCT Commercial Contract.

BCT does not expect any immediate material financial return as a result of entering into the contracts.

However, as the Active8me platform which is integrated with the BCT SDKs is rolled out in Asia, BCT expects to start generating licence and other fees from the commercial arrangement, the financial returns of which cannot be forecast at this time.

The initial term of the contract is 12 months, renewable for consecutive further terms of two years unless terminated under various clauses contained in the contract.

Body Composition Technology private, cost-effective and accurate

Body Composition Technologies (BCT) is focused on developing a cost effective, easily accessible and reliable smartphone-based body composition and anthropometric measurement tool for governments, insurers, medical organisations and the medical research markets.

The group strives to deliver a private, cost effective and accurate method for our users to identify, classify and monitor some of the primary markers of chronic diseases such as type 2 diabetes, coronary heart disease and stroke.

This early screening, assessment and long-term monitoring of the primary markers of chronic disease, is essential for reducing the spiralling healthcare costs and improving the quality of life for billions of people worldwide.

The group works with its partners to give them better engagement and understanding of their consumers/populations whilst empowering them through the technology to make better health decisions which in turn should deliver better health outcomes and lower mortality rates.



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.

 

Discover Small Cap
Biotech Stocks

Join thousands of other Investors following our stock commentary for Free

X