MYQ have agreements with 10 companies to user the MYQ app. These business are ar various stages of rolloout and have an agreement with MYQ for large numbers of users. Other than NexusVita none have binding commitments.

Bearn is one of the companies with an agreement with MYQ. Bearn have 56M pre-registered users to use their platform when launched. Bearn offers to pay people to get fit. The model works by allowing people to track their own fitness and keep ownership of the data. They can then sell that data to businesses like gym's, product companies, insurance comanies etc. Bearn sit in the middle to facilitate the connection between people and businesses.

The most recent agreement between MYQ and Bean is for MYQ to lend them some money so that Bearn can roll out much faster. CEO of Bearn has put his holding in the company on the line to secure the loan with is only about $500k. Bearn is targeting 1M active monthly users to use MYQ, but no guarantee on that.

So the potential market for MYQ is huge, but with high risk on it coming to fruition.

Cash flow break even reached.

There is no shortage of announcements from MYQ but there was an important one on 6th October. An greement was signed with "NexusVita Pte Ltd with Minimum Guaranteed Revenueof USD$3,588,000pa". The CEO in the October 4C, issued on the same day, said that this was more than enough to cover cash burn rate.

The reason NexusVita wanted this agreement was to get a large discount on the per user price from USD$5.49 down to USD$2.99 because the Asia market is price sensitive.

The agreement is to deliver 100,000 active monthly users within the year and to pay the $3.5M regardless of whether the min users are reached or not.