# SapientX

A.I. Software Solving Staffing Shortages.

## Elevator pitch
Our software adds a voice and intelligence to other peoples products.

- Canonical URL: https://wefunder.com/sapientx
- Entity ID: wefunder:company:51568
- Last updated: 2026-06-04T05:02:14Z
- Generated at: 2026-06-04T20:09:48Z

## Quick facts
- Conversational understanding accuracy of up to 99%. (GPT-4 = 78% in a lab, Alexa = 73% per ZDnet).
- Software is complete. Six fielded systems with Seligman, Questex, AWE +. 30+ prototypes delivered.
- Our assistants speak 95 languages and dialects allowing us to potentially serve 7B humans.
- SapientX runs on almost everything using as little as 2% of the CPU / 54mb of memory on a phone.
- We can run with or without the Internet. We don't sell user data making us GDPR friendly.
- ChatScript tech powered Outfit 7's Talking Tom app leading to 65M downloads and their Unicorn exit.
- A.I. companies typically yield twice the return for their investors over other tech startups.
- We track 41 peers, 33 of which have exited. On average, they returned about 4.5X to their investors.

## Active fundraises
- wefunder:fundraise:58663: 506(b) successful (USD)
- wefunder:fundraise:58662: 4(a)(6) successful (USD)
- wefunder:fundraise:28912: 4(a)(6) successful (USD)
- wefunder:fundraise:34979: 506(b) successful (USD)

## Story
We created voice assistant characters, powered by generative AI (artificial intelligence), that can interact with users as if they are best friends. Today, we are working with companies that want our conversational characters to perform jobs that they can’t find enough humans for.Reasons to InvestWe have made a hybrid of GPT-4 and Symbolic Reasoning AI to achieve high accuracy as well as conversationality.Our voice technology has high conversational accuracy of up to 99%. Siri and Alexa are only 75% and 72.5% respectively (ZDnet) and ChatGPT alone gets only 78% in the lab (Open AI).Our assistants speak 95 languages and dialects allowing us to reach 7 billion potential users, and we can run with or without the Internet.The software is complete with systems delivered, for public use, with six partners including Seligman, Questex and AWE.Serious Staffing ShortagesIn the post-pandemic landscape, the hospitality industry struggles with 2 million unfilled jobs. For restaurant and hotel owners, this isn't just a problem—it's a threat to their survival.ChatGPT (a LLM, aka large language model) introduced us to generative AI, but with Open AI's reported accuracy rate of only 78%, under ideal lab conditions, it falls short for businesses where accuracy is crucial. When your business's success is at stake, you need a reliable, consistent AI solution.Enter SapientXWe create friendly, digital helpers that interact like real people on displays, kiosks, and vending machines. By combining our accurate Symbolic Reasoning AI technology with ChatGPT's conversational skills, we achieve up to 99% accuracy — surpassing other AI solutions on the market. And the best part? We respect your privacy and never sell user data.The Story of SapientXSapientX was founded by longtime friends, David Colleen, Bruce Wilcox and Maclen Marvit. We wanted to go beyond the keyword-based chatbots and low-accuracy LLM's (such as ChatGPT) to make a voice technology that could interact with users naturally, like they were talking to their best friend. From there, we assembled a team of passionate AI scientists, software developers, and world-class animators. Today, Maclen is an Advisor and Nasir works with us as CTO. Together, we are well-equipped to bring digital characters to roles previously filled by humans.Vivian auto sales prototype used for Nio, VW and IntelToday, we are working with companies that want AI powered characters to interact with their customers via phones, kiosks and vending machines.  Our core product is conversational AI (artificial intelligence) software that we license to companies on a per unit basis or using a SaaS model. We sell directly to these companies as well as via sales channel partners.Early WorkIn 2003, Planet 9 Studios (our major shareholder) began an ambitious, government-funded research project to develop Sage, an AI powered, digital human... the first of its kind. In 2008, we were developing navigation systems for BMW, Magellan, Clarion and Nvidia. Bruce Wilcox joined our team to add conversational AI capabilities to our RayGun navigation platform and in 2012, the voice engine was released, by Bruce as the ChatScript open-source project. SapientX was formed in 2016 with a transfer of voice AI IP from Planet 9.Mitsubishi Mia voice assistant prototype for the Mitsubishi Outlander SUVCan You Speak Japanese?Dozens of companies have told us that they would use our software, in their products, if we only spoke Japanese or German or Chinese. We knew, that in order to grow, we would have to take up this challenge. This summer, we boosted our language support up to 95 languages allowing us to potentially serve about 7 billion people! We can even automatically detect what language you are speaking.Prototype airport guide for the Edmonton International Airport (not deployed yet)In 2022, we teamed with Acamp to develop a prototype for the Edmonton International Airport to give directions, flight info and restaurant advice to busy travelers. As is required by Canadian law, our Eddie character needed to speak English, Chinese and French Canadian. We see a big future in developing characters that can speak any language.Xander trade show guide for AWETrade Show Assistants We have taken an active trade show presence at DSE (digital signage), Voice22, NRA (food service), G2E (gaming), Smart City Expo, FTE (travel) and IAAPA (resorts and amusement parks).CyberPunk Conversational Slot Machine Prototype at the Global Gaming Expo in Las VegasDigital WorkersAt the beginning of Covid, most of our projects went on hold. Luckily, we found a new path by developing digital workers that could serve people in kiosks and vending machines. Our first project in this area was for vending machine company IVS and Amazon. Amazon wanted a voice operated vending machine that could dispense Covid supplies to their truck drivers and warehouse workers. Surprisingly, Amazon never asked us to use Alexa! We realized that the great resignation had created lots of jobs that no one wanted and that many of these jobs could be performed by our AI characters... at a much lower cost. Our next characters were trade show guides Xander (Augmented World Expo), Q (Digital Signage Experience), Fern (Voice 22), Chatty (Project Voice) and Annie (Smart City Expo). These characters greeted show visitors, gave directions, answered questions and even told you who was speaking when.Our big breaks came a year ago with two large real estate trust companies (Seligman and Tricon) coming to us to provide 24/7 characters for their complexes. Seligman asked for Chief, a guide to their Liberty Station retail center in San Diego. Chief went into service in December of 2022 and we are in discussions for a next generation of Chief for mobile phones.Chief greeting visitors @ Liberty Station in San Diego (Chief lives in the former training ship!)Tricon Residential is a REIT that builds, owns and leases single family homes. At any one time, they have 1,000 homes available for lease. During Covid, they began to experiment with giving home tours without the presence of a live sales assistant. They asked us to improve on this by developing Tustin, a prototype home leasing assistant that lives on the phones of prospective home renters. Tustin is activated by a QR code and she can tell you all about the home, how to lease and even talk about the neighborhood. We hope to bring Tustin into live use in 2024.HealthcareIn 2022, we were introduced to Texas A&M Universities medical group. They explained that the "Great Resignation" had created a large shortage of clerical staff at medical clinics and hospitals. They wanted to develop a digital reception character that could check patients in for their doctors appointments. We gave them our proposal and heard nothing for a year.In December of 2023, Humanate (a Texas A&M spin out) contacted us explaining that they had had a bad experience with a competitor and they wondered if we could save their project over the next three weeks. We agreed and developed the Cassie reception character. Our team made this deadline and Cassie is now slated to be deployed to Humanates first customer who operates 20 clinics serving 43,000 patients!Cassie PrototypeHotels & RestaurantsThrough operator conversations at the National Restaurant show this year, we began to realize just how difficult it is for hotel and restaurant managers to find enough people to run their operations. In 2023 we developed many proposals for industry leaders that own fast food chains, hotels, fitness centers and casinos. One told us that they will fully automate ALL food ordering for new stores beginning in 2024. It's a brave new world and we are in the front line of answering the needs of these business operators.Wynnie the hotel concierge, Q the trade show guide and Queenie the food ordering assistant at the IAAPA show in OrlandoThe Fast-Growing Future of AI TechnologyThe voice AI market is growing by leaps and bounds. It’s expected to reach $86.42 billion by 2032, with a CAGR of 23.9%. (Precedence Research)This is a highly active M&A environment. Our peers have been acquired by companies such as Apple, Microsoft and Samsung.Conversational Characters for Key MarketsWe adapt our revenue model to the norms of the industries that we work in. For example, with kiosks and vending machines, this means paid or unpaid prototyping and user testing leading to monthly SaaS contracts over a defined amortization period.Other companies want per unit pricing with yearly maintenance and support contracts. The pricing for each model varies considerably based on the total number of units fielded and if hardware is included in our contract. Sample Pricing for 1,000 units:Vending Machines - $100/machine + $50 monthly maint. & support.Mobile Phones - $20,000/server instance/yearMixy Avatar in Vending Machine PrototypeBoosting Sales by PartneringAs a startup, our new customer outreach has limits, but by developing marketing and sales partnerships with other companies, we can greatly extend our reach. We currently have 22 partnerships including companies that make kiosks, computers and the microphones needed to make complete, turn-key solutions for our customers. In the image above, you can see Actineon computers and a food ordering kiosk made by ImageHolders.MilestonesAccuracy, Security & Great AvatarsWe offer high accuracy, user data security, 95 languages and we can run on almost any platform. We support common avatar art pipelines to deliver movie grade characters that can look and talk like anyone or anything (yes, we do animals and cartoon characters). We use the latest machine learning technology to animate our characters automatically, in human-like ways.Vivian AvatarExpanding What Voice AI Can DoSapientX is one of the few products built from the ground up to support natural human interaction, replacing older command-based systems. In 2022, we merged our Symbolic Reasoning A.I. system with GPT to offer our customers the option of having characters be able to speak conversationally about any topic. We believe many new products will use a conversational interface, changing the standard for voice systems. This is already a large market and growing rapidly. A number of our peers have been acquired by larger players. We believe that the best way to reach the most users may be by joining a larger company with an established sales pipeline.Field testing our system in a Chrysler Pacifica van for Magneti Marelli.Help AI Characters Reach Their Fullest PotentialBuilding SapientX has been a lot of work but a fun challenge for our team. So far, we have released 6 characters into the "wild" at public locations... each better than the last. We are determined to offer movie grade characters with the latest AI technology to help our customers succeed. Our core team is 7 people now with a roster of consulting specialists. We have the right team to begin scaling SapientX into a leading, generative A.I. technology company.Albert Einstein wrote that “The true sign of intelligence is not knowledge, but imagination.” These are exciting times as our AI assistants evolve from simple question-answering bots into digital workers that can help us with simple jobs and who can inspire us to be our creative best.Today, our globally distributed team of scientists and engineers are pushing the boundaries of generative AI. We invite you to join our journey. Funds raised will expand our team and deliver our sophisticated AI to more users and businesses needing solutions. Thank you!Kaila Avatar 

## FAQ
1. **What the different between this round and the one at SeedInvest year ago? https://www.seedinvest.com/SapientX/seed**
   - Hi Bryian. The raise is similar to our 2018 SeedInvest raise in that both are crowd funding raises and that both group investors into an LLC that votes as one. The main difference is that SapientX is further along in developing its customer base, our software has added 39 new languages and other features important to our customers and because of this our stock has increased about 28% despite the downturn in our economy.
2. **Hi - Very interesting company. A few questions. 1. You state that speech recognition was poor in 2009 and had to wait for it to improve, but aren't you the ones building the technology? Which components of your product is proprietary and which are from third parties? 2. Are th...**
   - Hi Jeff1. At the time, we relied on third parties for speech recognition and synthetic speech. Unlike others, we started with natural language understanding (NLU) on the premise that you should be able to speak naturally to devices without having to learn commands. Other systems are based on key words and never have any comprehension of what a user is saying. Today, we control our full software stack and use partners if appropriate.2. Some prototypes are paid some not. Our goal is to bui...
3. **David, Thanks for your quick reply. Do your revenue projections in the pitch deck reflect the delay caused by COVID-19? If not, how much do you need to push back these projections?**
   - Hi Jeff. Yes, we reduced our 2020 projections by about 40% to account for Covid delays. We have an auto industry study that estimates US auto production to be -25% this year, but +33% next year.  No one know what the real impacts will be but this weeks jobs numbers seem to show that companies are getting back to work.
4. **Hi there, You mention in the attached deck that you avoid competing in markets against google and amazon. Would you mind delineating those markets for me and explaining your plan to continue this strategic avoidance? For the latter question, I'm thinking about Google and Amazo...**
   - Hi Tristan. It's important to remember that Google and Amazon developed voice assistants to collect information on users to help them sell products and to re-sell this data to third parties. Where they choose to place these assistants is predicated on this. That leaves many market areas for us. Let me explain.Accuracy - Our customers need accurate responses to user requests. We deliver this. The tech giants can't deliver this because their systems give wrong answers about one time in four. If...
5. **Why have you gone the crowdfunding route instead of the VC route? I would imagine if the product(s) is cutting-edge, VCs would be knocking at your door begging to invest.**
   - Hi Calvin. VC's may say that they invest at a seed level but the truth is that most wait until the Series A. Most Series A's don't begin until a company begins to ship product... which we hope to do later this year. We are fortunate to have 20+ letters of interest from top VC's and verbal interest from many more. We have also been contacted by M&A teams from Samsung, Amazon, Volvo, LG, Cerence and Toyota which is great but they admit that they rarely move on a company until afte...

## Team
- David Colleen (Founder, CEO, Chairman of the Board)
- Bruce Wilcox (Founder, Chief Scientist)
- Maclen Marvit (Founder, Advisor - A.I.)
- David Apgar (Advisor - Finance)
- Dave Lorenzini (Advisor - Business Development)
- Patti Glovsky (Board Member)
- Robert Blair (Board Member)
- Drue Freeman (Board Member)

## Q&A
- Q: Hi - Very interesting company. A few questions. 1. You state that speech recognition was poor in 2009 and had to wait for it to improve, but aren't you the ones building the technology? Which components of your product is proprietary and which are from third parties? 2. Are the 20 prototypes paid engagements? Which products/customers will go live first in Q4 2020? What milestones must be achieved prior to launching these products? 3. Are there any non-compete issues with Outfit 7, which is running an earlier version of your software? 4. Do you consider Mycroft AI as a competitor? How are they different? 5. What are the benefits of integrating your software with Zoom and Webex? Does SapientX also produce meeting minutes with decisions/actions? How is Telecaster different from your core product? Thanks in advance!
  - A: Hi Jeff1. At the time, we relied on third parties for speech recognition and synthetic speech. Unlike others, we started with natural language understanding (NLU) on the premise that you should be able to speak naturally to devices without having to learn commands. Other systems are based on key words and never have any comprehension of what a user is saying. Today, we control our full software stack and use partners if appropriate.2. Some prototypes are paid some not. Our goal is to build a relationship with a customer and to attain profits when our software ships in their product. We were scheduled for Q1 2020 development work with Volvo, Yamaha, Mitsubishi, Aioi insurance, KTM motorcycles and Outsourcing Technologies with the goal of shipping product late this year or early next year. With Covid, these efforts were delayed. Luckily, KTM has written to us asking to resume work. We are hopeful that the others will do likewise. The primary milestone is to pass through our customers user testing so that their management can approve the use of our software.In this same period, we began prototyping with the largest appliance maker, a top robot company and a maker of a new generation of vending machines powered by voice and avatar brand ambassadors to engage with customers.3. No.4. I spoke with the Mycroft team several years ago and they seemed like good people. They were making a smart speaker to compete with the Amazon Echo built on open source technology that was not state of the art. To me, this was an unwise business direction and last year, they seemed to have pivoted. In the product demos that I have seen, the accuracy of their system does not seem to be competitive with other products.5. A few years ago, we were asked by Skype (Microsoft) and Plantronics to build an assistant for conferencing. At the time, this seemed to not be a strong use case. With Covid, products like Zoom found mass adoption forcing us to re-consider our position. In our rapid prototyping, we quickly brought one of our existing assistants into Zoom, WebEx, Google Meet, Google Hangouts and Microsoft Teams.  I am also friends with key people at many of these companies so we are discussing deeper product integration and we are in a first proposal with a Japanese customer. Our goal is to have Tele, our new meeting assistant, initially help set up meetings, take notes, offer meeting summaries and action item lists and answer questions from company document repositories. Other suggested uses included sales call analytics, HR and multi-lingual conferences (since our assistants speak 40 languages). We think Telecaster is an important product leveraging our core software.Thanks for asking!
- Q: Hi David, Congrats on what you've accomplished so far. Your product looks really promising! One of my readers told me about your deal and I'm considering writing an analysis at https://www.angelnotes.co - I'd love to hear more about the following: 1) Do you have any independent review of your software accuracy? 2) Unfortunately, I can't calculate the current burn rate and runway since the most recent financial data are from May 2020. Would it be possible to have more recent data about your burn rate and runway? 3) I saw you were expecting $500,000 in revenue for 2020 but didn't provide an update yet. May I ask if the forecast it's still in place? 3) Reading your risk section, I found that "Bruce Wilcox is a part-time team member. As such, it is likely that the company will not make the same progress as it would if that were not the case." Is there any chance this will change in the future? Having Bruce join the company full-time? 4) I read in your pitch deck about some pending patents. May you provide more information about that? What technology are you seeking patents for? Why do you believe it's better to protect it with patents instead of trade secrets? 5) May we have more info on your cap table? On your WeFunder campaign, I see that Planet 9 Studios, Inc. is a major shareholder in the company with 7,050,000 securities held and 64.7% of voting power. Nevertheless, I see a different picture in your pitch deck with David's ownership at 55% and Maclen and Bruce at 8% each. I'd love to hear more about that. Thanks very much for taking the time to read me. Sincerely, Manuel Bleve https://www.angelnotes.co
  - A: Thanks Manuel. It would be great to have your coverage. I'll ping you thru your site to set up a call. 1. That's a problem because there is no standard test for conversation yet. Google has proposed something but it's not in a useable state yet. Amazon offered to co-fund something with us but that has not happened yet. The only tests out there are geared towards older question answering systems like Siri and Alexa. To address this, we use live interaction recording and test our systems until we hit 99%. A person with heavily accented English may only achieve ~70%. For other languages, we test with recordings of native speakers. That's the best that we can do for now. 2. Our year end was a week ago so our team is working to close our books and send them to our auditors in a week. The audit results are more than a month out. Our burn rate is about $35k/ mo. and our runway is roughly a year with the completion of this raise. In addition, our customers are beginning to revive, post-Covid so we are projecting $500k of revenue this year. 3. Bruce's main contribution to SapientX has already been made. He works on code updates and works with the team on difficult code topics. The bulk of the engineering is done by others on the team to adapt the core product to customer needs. It would be great to have Bruce full time but we can't yet afford that. 4. The patent claims are mostly for next generation product features. Realistically, a startup does not have the resources to defend a patent. A patents usefulness is primarily for a larger, acquiring company that does have the necessary resources. In other words, patents add value to a startup. 5. SapientX was started in 2016 with a formal technology transfer from Planet 9 to SapientX in exchange for stock. Planet 9 was primarily involved in navigation and tracking and had developed it's first conversational A.I. system under government and private funding beginning in 2004. Part of this technology was used in a voice assistant for navigation in 2008 headed by Bruce Wilcox. I own Planet 9 which still exists but is dormant.
- Q: Is SapientX claiming that its largest investor, who holds over 51% of outstanding shares, has unilaterally approved the resolution to dissolve the company? and that, that same investor is also identified as a creditor with an unpaid loan, which entitles them to liquidation proceeds before all equity investors? Is David Colleen indeed owed “expense reimbursements” with no transparency as to what these consist of? There is no indication of oversight, board approval, or independent audit. Is this unpaid salary?
- Q: Based on the information provided, several potential legal actions could be considered against SapientX and its principals. The core issues revolve around corporate governance, fiduciary duties, shareholder rights, and possible fraudulent activities. 1. Breach of Fiduciary Duty: The primary concern is the potential breach of fiduciary duty by the majority shareholder and company management, particularly David Colleen. Directors and officers of a corporation owe a fiduciary duty to the corporation and its shareholders. This duty includes the duty of loyalty and the duty of care.[1] The duty of loyalty requires them to act in the best interests of the corporation and its shareholders, not their own interests. The unilateral approval of dissolution by a majority shareholder who is also a creditor, especially when it appears to prioritize debt repayment over the interests of equity investors, raises significant red flags regarding a breach of the duty of loyalty.[2] Furthermore, the lack of transparency regarding David Colleen's "expense reimbursements" and the absence of oversight or independent audit suggest a potential breach of the duty of care, as well as the duty of loyalty if these reimbursements are not legitimate business expenses but rather personal enrichment.[3] 2. Oppression of Minority Shareholders: Retail investors, as minority shareholders, may have a claim for oppression of minority shareholders. Many jurisdictions have laws designed to protect minority shareholders from actions by controlling shareholders that are unfairly prejudicial or oppressive.[4] The scenario described, where the majority shareholder (also a creditor) unilaterally dissolves the company to prioritize their debt repayment, effectively wiping out the equity of minority shareholders without providing them "protective options," could be construed as oppressive conduct.[5] The fact that retail investors were only offered equity, while the majority investor had both equity and debt, creating an "obvious imbalance" that is now being exploited, strengthens this claim.[6] 3. Fraudulent Conveyance/Transfer: If the "expense reimbursements" claimed by David Colleen are not legitimate business expenses and are instead a means to extract assets from the company before liquidation, this could constitute a fraudulent conveyance or transfer. Fraudulent conveyance laws aim to prevent debtors from transferring assets to avoid creditors or to unfairly benefit certain parties. [7] If these reimbursements are found to be without legitimate consideration and designed to defraud other creditors or shareholders, legal action could be taken to claw back these funds.[8] 4. Misrepresentation or Securities Fraud: While less direct from the information provided, if SapientX, during its fundraising efforts, misrepresented the company's financial health, its corporate governance structure, or the risks associated with investing, retail investors might have a claim for misrepresentation or securities fraud. For instance, if the company failed to disclose the significant debt held by the majority investor or the potential for such a conflict of interest to arise during dissolution, this could be a basis for a claim.[9] However, proving this would require examining the offering documents and communications provided to retail investors at the time of their investment.[10] 5. Unjust Enrichment: David Colleen's claim for "expense reimbursements" without transparency or oversight, especially if they cover personal or lifestyle spending, could lead to a claim of unjust enrichment. This legal principle prevents one party from unfairly benefiting at the expense of another.[11] If Colleen received funds from the company that were not legitimately owed to him, and this resulted in a detriment to other shareholders, a court could order him to disgorge those funds.[12] 6. Corporate Veil Piercing: In extreme cases, if it can be proven that the corporation was merely an alter ego of the majority shareholder or David Colleen, and that corporate formalities were disregarded to perpetrate a fraud or injustice, a court might consider piercing the corporate veil. This would allow creditors or shareholders to hold the individuals personally liable for the company's debts or actions.[13] This is a high bar to meet and typically requires demonstrating a complete disregard for the corporate entity and its separate legal existence.[14] Recommended Actions for Retail Investors: Retail investors should consult with an attorney specializing in corporate law, securities law, or shareholder litigation. The attorney can assess the specific facts, review all relevant documents (e.g., company bylaws, shareholder agreements, offering memoranda, financial statements), and determine the most viable legal strategy. Potential remedies could include injunctions to halt the dissolution, monetary damages, or the appointment of a receiver to oversee the liquidation process fairly.[15] 1. Fiduciary Duty. [Cornell Law School Legal Information Institute]↩ 2. Duty of Loyalty. [Investopedia]↩ 3. Duty of Care. [Investopedia]↩ 4. Shareholder Oppression. [Nolo]↩ 5. Minority Shareholder Rights. [FindLaw]↩ 6. Corporate Governance and Shareholder Rights. [Harvard Law School Forum on Corporate Governance]↩ 7. Fraudulent Conveyance. [Cornell Law School Legal Information Institute]↩ 8. Uniform Fraudulent Transfer Act (UFTA). [National Conference of Commissioners on Uniform State Laws]↩ 9. Securities Fraud. [U.S. Securities and Exchange Commission]↩ 10. Private Securities Litigation Reform Act of 1995. [Congress.gov]↩ 11. Unjust Enrichment. [Cornell Law School Legal Information Institute]↩ 12. Restitution and Unjust Enrichment. [American Law Institute]↩ 13. Piercing the Corporate Veil. [Cornell Law School Legal Information Institute]↩ 14. Corporate Veil. [Investopedia]↩ 15. Remedies for Shareholder Disputes. [American Bar Association]↩
- Q: So, this is the end. SapientX states that its largest investor, who holds over 51% of outstanding shares, has unilaterally approved the resolution to dissolve the company. That same investor is also identified as a creditor with an unpaid loan, which entitles them to liquidation proceeds before all equity investors. Meanwhile, retail investors such as myself were only offered equity, not debt. We were not provided the same protective options—despite this structure now creating an obvious imbalance. Further, David Colleen claims he is owed “expense reimbursements” with no transparency as to what these consist of. There is no indication of oversight, board approval, or independent audit. This could feasibly cover any personal or lifestyle spending during 2020–2025, including unpaid salary. Great reputation you managed to build, David. To be THERE on the rise of AI and miss everything and just pull the plug while ensuring your own safe landing.
- Q: You guys raised over 2M on Start Engine, now you are here. It makes me nervous when a company has no revenues, and the business model seems to be just endless fund raising rounds, hoping for a buy-out / pay day at the end. People would be more confident if you showed actual sales / revenues. I worked for a company once (I won't name it) whose business model boiled down to "let's do another fund raising round" - in fact I worked for a couple of these in my time - the party ended sooner or later in both cases. At the end of the day, having a real product and real revenues is the only way to be successful long term.
  - A: Hi Francis. I guess you missed our major announcement just before Christmas. We signed an important contract to deliver a health care assistant which, per our customers sales projections, would generate over $11 million in revenue over the next three years. Last week, we successfully delivered the prototype and received approval to develop a shipping product. This is scheduled to go into public use in May. We have other similar deals that we are working to close. David
- Q: Investor Eric Grich emailed me with the following comment. While I don't enjoy negative comments, I think it important to address and share them. David. Eric - What Happened to SapientX going public? I put my reputation on the line backing your company evek after the the shot you pulled with friends to invest in your company. You've done nothing you've said the company is going to do and the value you've proclaim and projevt isn't there either and now this is your focus? David - First of all, thank you for joining our team as an investor. Let me address your questions one by one. IPO - I don't understand your comment. We have never said that we were planning an IPO. While we remain open to one, the historical data shows this to be a poor path for investors. TechCrunch stats show that they deliver roughly half of the returns to investors that a merger or acquisition does. Also, it seems that most of the recent SPAC's have under performed. My neighbor, the founder of Joby Aviation, brought his SPAC out at $10, it went to $3 and 2 years later, it's back up to ~$7. Not great. Even worse, Soundhound IPO'd in April of 2022 at $6.50. Today they are at $2.14.  the shot you pulled with friends - I also don't get this. Are you aware that Wefunder does not publicly promote raises until they reach $50k? At the moment, the only way to find us on their site is to search for us by name. Every single Wefunder startup only has friends, family and prior investors to turn to for this first $50k. Once companies reach this point and get promoted, they tend to take off. This benefits you greatly. You've done nothing you've said the company is going to do - If you are referring to placing our system in a shipping car... you are correct. The car companies cancelled all of our projects at the start of Covid and that work has not returned. I'm sorry if you don't like our pivot into digital signage and vending but pivots are what wise startups do when market forces change the playing field. During Covid, I estimate that 200 voice startups went out of business. Many had foolishly built on top of Google Assistant and Alexa... only to have Google and Amazon pull the plug on their developer API's. Unlike them, we have our own technology and control our own destiny. If you are talking about technology development and other milestones, I believe that an examination of the record will show that we kept our commitments and continue to do so. Our team accepted a new health care project with Humanate a week ago. We all worked through the holiday to deliver a first prototype on January 8th. We are on track for this. I don't see many companies with this level of dedication... but this is what it takes to succeed.
- Q: Hi, the auto industry moves very slowly (new architecture every 5 year at best) even without COVID-19 impact, integrating any new technology with auto OEMs can take a long time to integrate, test and pass certification. Why not integrate with and sell your products to aftermarket devices like GPS, self-driving device makers? Also, why did your revenue go down in 2019? So is the 0.5M revenue projection 2020 still accurate? Thanks.
  - A: Hi Helen. First of all, we started with health, robots and cars. The best early traction that we had was with Mitsubishi in part because we had many years of experience in working with car makers... and yes the time to market is long. With Covid, the car makers have slowed their new product development as they always do in a recession. One study says that US car production will be down 25% this year but back up 33% next year.Knowing this, this spring, we put added effort into appliances, vending and health. We feel that these markets are ready for our product and their time to market is 6-18 months. We have also been in two major proposals with TomTom the largest GPS device maker in Europe. We were the first company to integrate their new map system into a voice platform. They have long used Nuance for their voice interface even though they acknowledge that Nuance's lack of accuracy is problematic. We have so far failed to displace Nuance because TomTom felt that we were too small. We will continue until we succeed.We are a pre-revenue company. We do get some prototyping revenue but our main goal is to built a strong pre-production relationship with our customers and to defer serious revenue until out software begins to ship in their products. We are aggressively working to ship these products this year. We can't guarantee results but this could be as early as Q3 2020.We reduced our 2020 projection down from $800k to $500k because of Covid delays. These projections came from pre-production development projects that were slated to begin Q1 2020. They are still in play but none of us really knows the full economic impact of Covid this year. Luckily, two of our customers have asked to resume and we are cautiously hopeful that the others will also do so soon.
  - A: Hi Helen. Yes, working with the auto industry takes a lot of patience. We have been working with them for about 15 years. We worked with Magellan long ago and did a proposal for TomTom last year for their systems. Our work for Volvo is an interface for self driving systems. Most of the self driving car startups are not yet ready for us. They are consumed with just getting cars safely down the road! When they are ready, we are a strong fit for them. We are a pre-revenue company sometimes getting prototyping money for our pre-production work. These revenues go up and down.
- Q: I loved your transparent responses to everyone in detail I will definitely invest in this company
  - A: Thank you Faisal.
- Q: Why no current statement regarding this dissolution, from David Colleen?? Where is the replies, answers, insights and responses to the questions/statements below? Something wicked this way comes!
- Q: Nothing but good news, new customers, new interest and now, boom, dissolution! Shocking to say the least. No answers, no explanations. Just a quick rug-pull. Damn!
- Q: Questions for SapientX Management and CEO Regarding Proposed Dissolution STRATEGIC RATIONALE AND DECISION-MAKING PROCESS: What is the primary strategic rationale behind the proposed dissolution of SapientX? Please elaborate on the specific factors and market conditions that led to this decision. [1] Can you outline the internal process and timeline that led to the decision to propose dissolution? Which departments or committees were involved, and what data or analyses were considered? [2] Were alternative strategic options, such as a sale of the company, a merger, a significant restructuring, or a pivot in business model, thoroughly explored before the dissolution proposal? If so, what were the reasons for their rejection? [3] How does this dissolution align with the company's stated mission, vision, and long-term goals that were communicated to investors and employees previously? [4] Financial Implications and Shareholder Value: What is the projected financial outcome of the dissolution for shareholders? Can you provide a detailed breakdown of the estimated liquidation value per share and how it compares to the current market valuation or previous valuations? [5] What is the estimated timeline for the distribution of assets to shareholders, and what are the key milestones in this process? [6] What measures are being taken to maximize the value returned to shareholders during the dissolution process, particularly concerning the sale of intellectual property, technology, or other significant assets? [7] How will outstanding debts, liabilities, and contractual obligations be managed and settled during the dissolution? What is the estimated impact of these on the final shareholder distribution? [8] OPERATIONAL IMPACT AND STAKEHOLDER MANAGEMENT: What is the plan for winding down operations, including the discontinuation of products/services, termination of contracts, and management of customer relationships? How will customer support and existing service agreements be handled during this transition? [9] What is the plan for SapientX employees? Will there be severance packages, outplacement services, or assistance with job searches? [10] How will the company manage its intellectual property (IP) assets during the dissolution? Are there plans to sell or license the IP, and what is the expected value of these assets? [11] What is the communication strategy for informing customers, partners, suppliers, and other key stakeholders about the dissolution and its implications? [12] LEGAL AND REGULATORY COMPLIANCE: What are the key legal and regulatory requirements that must be met for the dissolution to proceed? What is the anticipated timeline for obtaining necessary approvals? [13] Have all necessary corporate governance procedures been followed in proposing this dissolution, including board approvals and shareholder consultations? [14] Are there any potential legal challenges or liabilities that could arise during the dissolution process, and how are these being mitigated? [15] FUTURE OUTLOOK AND PERSONAL ACCOUNTABILITY: What lessons have been learned from SapientX's journey that led to this dissolution? How will these insights inform any future ventures or roles for the management team? [16] What is the personal impact of this decision on the management team and CEO? How do you view your responsibility to the various stakeholders in this process? [17] Is there any possibility of a reversal of this decision if new opportunities or circumstances arise before the dissolution is finalized? [18]
- Q: What happened to our updates?
  - A: Hi Mario. Updates are emailed to you every quarter. If you have changed your email address, you need to update it with the Wefunder team please. David
- Q: Really looking forward to an update.
  - A: Hi Shannon. Updates are emailed to you every quarter. If you have changed your email address, you need to update it with the Wefunder team please. David
- Q: Looking forward to an update.
  - A: Hi Mario. Updates are emailed to you every quarter. If you have changed your email address, you need to update it with the Wefunder team please. David