LOS ANGELES, CA (PRWEB) January 19, 2016
Content Checked Holdings, Inc. (OTCQB: CNCK) (the “Company” or “Content Checked”), the creator of a family of mobile apps for individuals who suffer from food allergies and other dietary needs, today announced that it has released a letter from the Company’s CEO, Kris Finstad, to update shareholders on the current status of the Company and important developments.
Revenue Growth — For the six months ended September 30, 2015, revenues were US$657,850, net of reserves, as compared to no revenues for the six months ended September 30, 2014. Content Checked had cash and equivalents of US$5,509,532 as of September 30, 2015. Generating considerable revenues is a significant accomplishment for a company founded only in July 2013, since many competitors have been in the business for a substantially longer period of time or have significantly more resources. Collectively, the family of apps owned and operated by Content Checked, have had over 2 million downloads and 66% of users are active at least 5 times a week. Since inception, all efforts have been devoted to the development of smartphone applications.
Formation of Board of Advisors — In January 2016, Content Checked formed a Board of Advisors to provide guidance to the Board of Directors and the management team in the execution of business development, marketing and operational matters, and to provide insight into continued opportunities within the food, health and nutrition space industry. Subsequently, Dr. Marc Siegel was appointed to the Board of Advisors. Marc Siegel MD FACP is a clinical professor of medicine and the medical director of Doctor Radio (Sirius/XM) at NYU Langone Medical Center. Dr. Siegel is a medical contributor, reporter, and member of the Fox News Medical A Team. He is a member of the board of contributors at USA Today and a frequent contributor to several other newspapers and magazines. Dr. Siegel is the author of five books, most recently The Inner Pulse; Unlocking the Secret Code of Sickness and Health.
Growing Content Checked Team — The Content Checked nutrition team has continued to expand and diversify. Among the 4 full-time employees and 10 contractors, Content Checked nutritionists have earned the following certifications and degrees, which strengthens knowledge and expertise in the food ingredients, health and nutrition space: Registered Dietician, Certified Nutritionist Specialist, Certified Nutrition Support Clinician, CISSN Sports Nutrition, Masters of Nutrition, Wellness and Health Coach and NESDA personal trainer.
Growth Capital Financing — In September 2015, Content Checked completed a US$4.5 million debt financing with Hillair Capital Investments L.P., an award winning U.S. fund (the “Fund”). The funding was completed through the sale of secured convertible debentures and warrants. The debentures are convertible into Content Checked common stock at US$0.80 per share.
New Partnership — In October 2015, Content Checked announced a partnership with Troy Healthcare under which the two companies will use their innovative products, MigraineChecked and Stopain® Migraine, respectively, to help deliver preventative information and fast-acting relief for migraine sufferers.
App Recognition and Growth — Content Checked apps continue to receive impressive reviews:
- MigraineChecked has recently received recognizable and extensive interaction with its users through social media.
- SugarChecked has experienced significant growth in a short period of time. SugarChecked’s information and technology continues to help significantly improve efficiency and reduce market expenses for the food industry.
Belief in Content Checked
As a measure of confidence in Content Checked as a company and as a brand, in September 2015, approximately US$1.1 million of Content Checked's chief executive officer's personal funds were advanced to the Company into shares of the Company’s common stock, at a conversion price set of US$0.96 per share.
The power of the Content Checked brand and apps have been recently reinforced by inclusion in high-profile media and food allergy and intolerance publications and outlets, both online and in print, including Forbes, USA Today, ABC, CBS, NBC, Fox, Los Angeles Business Journal, Yahoo! Travel and Yahoo! Finance, Examiner.com, MSN, PR Newswire, Business Rockstars, IdeaMensch, Celiac Disease Foundation, Cheapflights.com, Bustle, AllergicLiving, The App Magazine, Clean Eating, TheDailyMeal.com, DIY Active, Food Allergy & Research Education, SheKnows Media, Smarter Travel and Voices in America and ZLiving. Content Checked apps will also be featured in upcoming coverage by the following high-profile media and food allergy and intolerance publications and outlets, both online and in print, including Los Angeles Business Journal, Reuters, VentureBeat, MyHeart.net and Rasmussen Blog.
Changing to a Subscription Based Revenue Model
Content Checked believes that the iOS (Apple) and Android platforms are moving in the direction of subscription-based applications. To capitalize on this trend and stay ahead of the competition, we are making core apps free, and are also offering users subscription-based versions of Content Checked apps that will provide access to additional desired features. With the relaunch and re-brand of Content Checked’s products anticipated to take place in March 2016, a new subscription based service for the Content Checked line of products will be introduced, in addition to offering an updated and improved experience for core (free) users.
For core users, Content Checked’s products will still work the same way they always have: users will be able to scan a product to check if it fits within their dietary restrictions. A new User Profile feature will be added as well, allowing users to keep track of their “liked” and “favorited” products in a more convenient way, as well as reward users for the products they scan, update or add to the system.
The paid subscription versions of the apps will allow users access to a bevy of new features, in addition to the core experience. These features include:
1. A new and revamped recipe system, with all new recipes curtailed for users’ specific dietary needs.
2. A new shopping list system where users can add products that fit their restrictions to their personal shopping list, keep track of what they have bought, and remember purchased products for their next trip to the grocery store.
3. The new “Ask a Nutritionist” feature. Users can ask ContentChecked’s in-house Sport’s Nutritionist for fitness-related nutrition tips, the Holistic Nutritionist for natural and multi-dimensional nutrition advice, the Weight-Loss Nutritionist for optimum diet and metabolism advice, and finally the Wellness Nutritionist on tips for improving one’s general health and well-being.
As an indication that Content Checked continues to diversify and grow, it plans to expand the Content Checked family to include more niche apps within the health and wellness sector, with a focus on weight loss and development/degenerative conditions. The extension of the brand will add value to the family of mobile apps designed for those with dietary restrictions and preferences. Consumers of all ages are continuing to place greater emphasis on healthier food alternatives, and Content Checked's family of apps will reach every demographic in a household.
Uplisting Plans to NASDAQ or NYSE
Content Checked common stock is currently quoted on the OTCQB under the symbol “CNCK”. Content Checked would like to apply sometime in 2016 for uplisting to a major exchange like the NASDAQ or the NYSE. Uplisting to a major exchange is the next logical step in attracting a broader base of worldwide institutions, funds and retail investors in the future. Before any listing of our common stock on a major exchange can occur, such exchange will need to approve Content Checked's application for listing. Content Checked does not currently meet the listing standards for a national exchange, but as it proceeds in 2016 it intends to undertake appropriate corporate, corporate governance and other actions necessary to meet the qualifications for uplisting to the NASDAQ Capital Market or the NYSE.
About Content Checked Holdings, Inc.:
The Company (http://www.contentchecked.com) has created a revolutionary marketplace for people with dietary restrictions and the organizations who cater to them by creating and introducing the ContentChecked, MigraineChecked and SugarChecked smartphone applications to the market.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as “expects”, “anticipates”, “intends”, “estimates”, “plans”, “potential”, “possible”, “probable”, “believes”, “seeks”, “may”, “will”, “should”, “could” or the negative of such terms or other similar expressions. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in the Company’s business. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2015, the Company’s Quarter Reports on Form 10-Q and other filings submitted by the Company to the SEC, copies of which may be obtained from the SEC’s website at http://www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.