RE:RE:RE:RE:Understanding Yutian Medical Shanghai DealHi Pandora,
I asked GA to disclose what terms and condition VPT have with our Chinese partner
Yutian Medical Shanghai, and also what measure Ventripoint has taken to protect it’s business?
I also requested that he comment on your post.....here is the reply I got...I think it is reassuring.
Mark;
Thank you for your email.
We are confident our partners are working to make a real business in China and they have had 5 years to R-R-R and have not done so.
In fact, the QAS™ is our version "VMS2.0 for RV only" and so it is 2 generations behind where we are now.
They really are not capable of improving the technology and need us to help them even deploy what they have, let alone the newer versions which eventually China will want.
It is true perhaps someone in China will hack into the server and attempt steal the technology, (if they can hack Microsoft and the Pentogon, then they can certainly hack anyone anywhere), but we have done everything possible to prevent this. In some ways we are safer with our Chinese partners as they are well connected in China and frankly this is the only way to make sure you maintain your business. They police each other and so will not allow others to steal their business. This has been a tried and true approach used by large companies like Cisco, GE , Phillips to do business in China.
If I had it to do over, I would not have gone to China so soon, but now that we have established a presence with Yutian (which has been government funded - another reason we feel safer as the Chinese government is an investor in Yutian), it is best to keep going. Also, Chinese investors have helped us stay alive - they invested in Feb 2020 and Sept 2020, when we were halted, and all shareholders should be grateful for their help. They could have left us to falter and then bought the technology out of the ashes, but they did not.
I hope this answers your concerns. If not try again.
Regards,
Dr. George Adams ICD.D
Executive-Chairman
Ventripoint Diagnostics Ltd.
TSXV-VPT
www.ventripoint.com 519-803-6937