SapientX

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!

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.

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.

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.

Thank you Faisal.

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

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

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

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

Hi Larry. 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

Hi Manish. 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