- TALi Digital's (TD1) TALi DETECT and TALi Train platforms made significant progress during the June quarter
- These platforms are game-based tools which assess children's attention span and learning abilities
- The company conducted a program which saw 30 schools across Australia trial the DETECT and Train platforms
- Participants well exceeded the expected amount and the schools recognised the benefits of these platforms
- The platforms have also been globally recognised, with a trademark awarded in China and TALi's first U.S. patent being granted in April
- TALi says net operating cashflows totalled nearly $1.1 million in the quarter, which is up from the $700,000 in the March quarter
- However, TALi ended the quarter with $3.9 million in cash — down from $5.1 million at the end of the previous period
- Company shares have dropped 17.7 per cent and are trading for 2.8 cents
Despite ending the June 2020 quarter with less cash than in the previous quarter, TALi Digital (TD1) ticked off a number of milestones.
Net operating cashflows for the June quarter totalled nearly $1.1 million, which is an increase from the $700,000 outflows reported in the previous quarter.
This reflects the ongoing development of TALi DETECT and resources alignment together with the expansion of commercialisation activities.
Total cash receipts for sales to the education segment reached $17,000 as the company begins to scale-up commercialisation.
TALi ended the quarter with $3.9 million in cash, which is down from $5.1 million at the end of the March quarter.
The digital health company had a number of achievements including positive results for the TALi DETECT product and the completion of the TALi Schools Early Release Programme.
TALi Schools Early Release Programme
The TALi Schools Early Release Programme was conducted with 30 schools located in both remote and metropolitan areas across Australia.
Pleasingly, the program exceeded the expected 1000 participants, with a total of 1613 DETECT assessments completed.
"The achievement of the primary endpoints for both the TALi DETECT product study and the early release to market offer have allowed TALi to begin scaling its marketing and sales activities in the Australian market," Managing Director Glenn Smith said.
Today, TALi announced the program has been successfully completed.
"We’re encouraged by the number of schools that have recognised the benefits of assessing a child’s strengths and weaknesses in the major domains of attention – particularly when many classrooms have moved to remote and online learning model," Glenn stated.
A coordinator from Hillcrest Christian College primary school claimed TALi's DETECT assessment tool gave the teachers "the confidence to identify which students may benefit from additional support and training," especially as the classes headed into remote learning.
TALi DETECT is a child-attention assessment that is made up of seven exercises that give a detailed attention profile of a child.
Once completed, the child will receive a five-week personalised training program to strengthen their attention span and improve weak areas.
A total of 340 children, aged between four and eight, were tested to establish the assessment's accuracy as an attention assessment tool.
The results confirmed that six out of seven of the game-based exercises provide a foundational assessment of key attentional domains.
On April 1, TALi was awarded a trademark in China for its TALi Train and TALi DETECT learning devices and was classified under two acceptance classes.
TALi's products have been grouped into Class 41 under services for education, tutoring, training and entertainment, and Class 44 under medical analysis for diagnosis and treatment.
This trademark facilitates discussions with Chinese institutions and organisation - thus opening up potential commercial opportunities.
On April 21, the company was awarded its first U.S. patent. The patent covers the assessment, training function, and the technology used for TALi's products. It is valid for 20 years from the date of submission.
Duke Clinical Research Institute
On June 22, TALi Digital announced a collaboration with the Duke Clinical Research Institute (DCRI). DCRI is part of the Duke University School of Medicine and is the world's largest academic clinical research organisation.
Together, the companies will conduct clinical research programs to evaluate the TALi Train and TALi DETECT platforms.
Company shares have dropped 17.7 per cent and are trading for 2.8 cents each at 11:41 am AEST.