There are many requests from the market to see CITE on consumer devices. But.. our programs are so novel and groundbreaking that there isn’t a hardware capable of running CITE and MRM (which are the core features that drive the extreme benefit). Also, we don’t believe there are any qualified products capable of and safe for medical utilization, in scale, and over time.
GeaCom is a hardware and software company. GeaCom will sell 100% of the CITE hardware in the world. This is a billion dollar plus hardware business that GeaCom doesn’t need to share with unqualified and unsafe providers because we own the vital IP. As we grow the global customers evolving services CITE, they will then choose CITE hardware.
Even if there were another advanced FDA hardware solution available, introducing pure software solutions would spawn direct competitors without barriers to entry and this would force a low price point and a competitive space that would never enable development of a direct sales force, proper market material and innovation. A breakthrough product needs a price point that supports the development of market transition and this takes time, new language, new budgets, new use cases and ongoing innovation. The average revenue benefit from software as a service would average less than 10x lower financial yield per unit which wouldn’t enable the creation of CITE solutions.