IBM contract with the Dept. of Veterans Affairs was signed Friday 10th Sept 2021. Total contract value is around $4.5M initially for the delivery of the TTB GRIT mobile application.

I would anticipate an ASX announcement shortly.

Total Brain has experienced contract-signing delays due to Covid and the US elections and whilst the IBM contract was due to be signed at the end of 2020 it did not happen.

This key contract which has significant revenue potential for Total Brain is between IBM as sole supplier, and the US Dept. of Veterans Affairs for the provision of Total Brain's services. This was scheduled for award on 21 July 2021 as below in italics.

As this date has now passed an announcement of the commencement of services is anticipated. 

In the meantime Total Brain are raising $6.5M at 25 cents with a 1 for 7 rights issue and free 35 cent 12 month option and additionally I would expect the Hamptons agreement to be forthcoming at some point.

The Department of Veterans Affairs (VA), Office of Procurement, Acquisition, and Logistics (OPAL), Technology Acquisition Center (TAC), located at 23 Christopher Way, Eatontown, New Jersey intends to enter into a sole source contract for Getting Results in Transition (GRIT) Mobile Application for the Office of Business Transformation. The TAC intends to award a sole source firm-fixed price contract with International Business Machines Corporation (IBM) located in 11107 Sunset Hills Rd Ste 500 Reston, VA, 20190-5375. The Statutory Authority being utilized is Federal Acquisition Regulation (FAR) Subpart 6.302-1, Only One Responsible Source and No Other Supplies or Services Will Satisfy Agency Requirements. The period of performance shall be 12 months from the date of the award, plus one 12-month option periods. The North American Industrial Classification (NAICS) for this effort is 511210. The anticipated award date is July 20, 2021. This notification shall close on June 22, 2021. Questions/responses shall be submitted via email to Contract Specialist, Luis Lozada-Santiago, e-mail: luis.lozada-santiago@va.gov, with the subject line as the synopsis number, 36C10B21Q0314. The Points of Contact (POCs) for this action are Luis Lozada-Santiago, Contract Specialist, 732-795-1010 or Juan Quinones, Contracting Officer, 732-440-9714.

Total Brain has announced it has entered into a non-binding Heads of Agreement with health and wellness group Hamptons Life to provide an exclusive, perpetual global licence for the development and commercialisation of a direct-to-consumer (D2C) version of the Total Brain platform.

The deal will see a $6m upfront fee paid to Total Brain, along with an annual maintenance fee of $0.35m and an option for Total Brain to acquire 50% ownership in the D2C business within 5 years.

The previous valuation has been maintained and TTB is currently trading at a significant discount to its valuation.

Total Brain offers brain training exercises to improve mental wellness. They have entered a partnership agreement with IBM and IBM are incorporating the software into their products.

Many large companies are already on the books to provide this recurring fee service, but the sales cycle is very long to get them on board.

Current reports are that a fund is selling down and now the price is at levels prior to the large contracts being put in place.

Although some people may ascribe the mental conditions of others as "a lack of toughness", the reality is that mental health conditions cost the community a lot of money, whether that be from suicide to loss of work productivity.

Big businesses and insurance companies have a vested interest in reducing these costs and they are prepared to invest in this type of solution. 

One other area of interest with Total Brain is that an insurance company has no way to measure the improvement in drug addicts' health, but they are paying out large sums for detox treatment and they see the Total Brain platform as being able to give them some metrics, where before there was nothing.

August RAAS Research note added with unchanged $1.27 valuation.