In this episode of Sub11, Chris Titley sits down with Jeremy Steele, CEO of ASX-listed medtech company Control Bionics.

Jeremy unpacks how a pioneering Australian technology—originally used by Stephen Hawking—is now changing lives across assistive communication, rehabilitation, and sports performance. From enabling non-verbal individuals to communicate, to boosting vertical jump height in elite athletes, Control Bionics is using surface electromyography (EMG) to interpret human intent like never before.

We discuss:

• How the NeuroNode and NeuroStrip work
• Partnerships and global expansion
• Their recent investment in NeuroBounce
• AI’s role in personalised performance and injury prevention
• Commercial traction, regulatory wins, and blue-sky potential

Plus, Jeremy shares a moving story of a young man in Japan who used the technology to speak to his mother for the first time in 20 years.

This is a 101 on a company using Australian-born tech to create global impact.

This content is factual information only, does not contain financial product advice and has not been prepared in consideration of your personal circumstances or needs. Views shared by individuals are their own personal views and not the views of Sub11. We are not licenced to provide financial product advice and cannot make investment recommendations to you. Investments carry risk. Please consider seeking professional financial advice, and read the relevant disclosure documents, before making any decisions to invest in financial products.

Control Bionics and Sub11 are in a commercial relationship which includes the production of media assets for use on LinkedIn. All questioning is created by Sub11, not Control Bionics.

The conversation covered the company's inception in 2015, its transition from a B2C to a B2B model, and its current position as a global player in the hearing health industry.

James Fielding detailed the company's initial focus on creating headphones with built-in hearing tests, which evolved into personalized audio solutions.

He highlighted key milestones such as their successful Kickstarter campaign in 2017, the challenges of product development and delivery, and securing government contracts and partnerships with major audiology companies worldwide.

The interview also touched on Audeara's shift towards licensing their technology to other brands, their expansion into international markets, particularly Asia, and their recent financial successes. Fielding emphasised the company's commitment to improving hearing health awareness and accessibility, discussing partnerships with companies like Zildjian and their entry into the Chinese medical device market.

The conversation concluded with insights into Audeara's future growth strategies, the balance between growth and capital efficiency, and the company's progress towards profitability.

This content is factual information only, does not contain financial product advice and has not been prepared in consideration of your personal circumstances or needs. Views shared by individuals are their own personal views and not the views of Sub11. We are not licenced to provide financial product advice and cannot make investment recommendations to you. Investments carry risk. Please consider seeking professional financial advice, and read the relevant disclosure documents, before making any decisions to invest in financial products.

Audeara and Sub11 are in a commercial relationship which includes production of media mediums such as video, audio and social media. All questioning is created by Sub11, not Audeara.

James discusses his background as a mining engineer and his experience working for companies like BHP Billiton before joining RareX.

He explains the importance of REEs in modern technology, particularly in electric vehicles, wind turbines, and defense systems.

RareX's main project is the Cummins Range project in Australia, which contains significant deposits of REEs and phosphate.

The company plans to develop the phosphate aspect first as a low-cost entry point before moving into REE production.

James also mentions RareX's recent acquisition of the Khaleesi project, which is prospective for REEs, niobium, base metals, and precious metals.

The company is exploring opportunities for expansion, particularly in Saudi Arabia and Eastern Africa, to leverage its expertise and become a near-term developer of REE projects.

Key catalysts for investors in the next 12 months include drilling at the Khaleesi project, progress on the Cummins Range project's engineering and approvals, and potential strategic deals for project expansion.

This content is factual information only, does not contain financial product advice and has not been prepared in consideration of your personal circumstances or needs. Views shared by individuals are their own personal views and not the views of Sub11. We are not licenced to provide financial product advice and cannot make investment recommendations to you. Investments carry risk. Please consider seeking professional financial advice, and read the relevant disclosure documents, before making any decisions to invest in financial products.

Mike discusses the history of the company, which was founded in 2006 with the goal of finding a world-class ore body.

He talks about the company's focus on commodities like gold, copper, nickel, and more recently, high-purity alumina (HPA).

The main project discussed is the Lake Hope HPA project, which Mike believes has the potential to produce HPA at extremely low costs due to its unique geology.

He provides details on the project's ownership structure, recent milestones, and future plans, including completing a pre-feasibility study by the end of 2023, followed by a definitive feasibility study and potential final investment decision in 2026.

Mike also discusses the company's other projects, including potential spin-offs and joint ventures, and touches on the potential impact of technological advancements, such as material science, on the mining industry.

This content is factual information only, does not contain financial product advice and has not been prepared in consideration of your personal circumstances or needs. Views shared by individuals are their own personal views and not the views of Sub11. We are not licenced to provide financial product advice and cannot make investment recommendations to you. Investments carry risk. Please consider seeking professional financial advice, and read the relevant disclosure documents, before making any decisions to invest in financial products.

This content is factual information only, does not contain financial product advice and has not been prepared in consideration of your personal circumstances or needs. Views shared by individuals are their own personal views and not the views of Sub11. We are not licenced to provide financial product advice and cannot make investment recommendations to you. Investments carry risk. Please consider seeking professional financial advice, and read the relevant disclosure documents, before making any decisions to invest in financial products.

Michael highlights the advantages of Arovella's approach over traditional CAR-T cell therapies, including faster manufacturing, lower costs, and the ability to treat multiple patients from a single manufacturing run.

He outlines recent milestones, such as completing the manufacturing process development and scaling up for clinical trials. Michael also discusses the competitive landscape, potential partnerships and acquisitions in the cell therapy sector, target markets, and upcoming milestones for Aravella, including regulatory submissions, animal studies, and exploring new technologies.

This content is factual information only, does not contain financial product advice and has not been prepared in consideration of your personal circumstances or needs. Views shared by individuals are their own personal views and not the views of Sub11. We are not licenced to provide financial product advice and cannot make investment recommendations to you. Investments carry risk. Please consider seeking professional financial advice, and read the relevant disclosure documents, before making any decisions to invest in financial products.

- Spectur (ASX: SP3) focuses on making communities safer, smarter, and more sustainable

- Provides technology solutions for outdoor environments without power or connectivity

- Offers solar-powered, wireless platforms for security, safety, and environmental monitoring

# Technology and Solutions

## Core Platform

- Manages power and data efficiently

- Completely wireless and solar-powered

- Environmentally friendly

## Use Cases

- Security and trespass detection

- Beach safety and shark warning systems

- Environmental monitoring (e.g., beach erosion)

- Parking management

- Fisheries management

## AI Integration

- Uses AI for object identification and analytics

- Partners with multiple AI companies

- Easily integrates various AI solutions into their systems

# Business Strategy

## Customer Focus

- Shifted from small builders to enterprise-grade and government customers

- Key markets: government, utilities, and resellers serving these sectors

## Sales Approach

- Outbound sales team for unique solutions

- Digital marketing (LinkedIn, organic search)

- Educational outreach for novel applications

## Platform Approach

- Evolving from product company to solutions provider

- Aiming to become a platform company, enabling partnerships with AI, security, and sensing companies

# Financial Performance

- Focused on profitable growth

- Reduced operating cash burn

- Guidance for positive EBITDA in the next fiscal year

- 56% growth in sales (recent record)

- Expecting revenue growth due to lagging revenue from sales

# Recent Developments

## Capital Raise

- Small placement of $250,000 to remove debt facility

- Funds used for restructuring costs and working capital

## Acquisitions and Integration

- Acquired Three Crowns Technologies

- Bought out partner in Spectur New Zealand

- Realized cost synergies, reducing headcount by nearly 20%

# Future Outlook

- Positioned for profitability in FY25

- Focusing on delivering commitments to customers, shareholders, and staff

- CEO believes the company is undervalued on core metrics

# Challenges and Opportunities

- Educating potential customers about unique solutions

- Navigating market demands for profitability in early-stage companies

- Leveraging AI as an enabler rather than a threat

- Potential for white-labeling and expanding partnerships in the ecosystem

This content is factual information only, does not contain financial product advice and has not been prepared in consideration of your personal circumstances or needs. Views shared by individuals are their own personal views and not the views of Sub11. We are not licenced to provide financial product advice and cannot make investment recommendations to you. Investments carry risk. Please consider seeking professional financial advice, and read the relevant disclosure documents, before making any decisions to invest in financial products.

Disclosure: I, at the the time of publishing, Chris Titley, from Sub11 own shares in Spectur in my SMSF.

- AirTasker is a platform-based business connecting people for physical tasks

- Operations in Australia, UK, and US

- Focus shifted from top-line growth to generating positive free cash flow

- Achieved positive free cash flow of $2.6 million in the last quarter

- Group revenue up 11% year-over-year

# Market Strategies

## United States

- Keeping costs tight

- Preparing for media partnership strategy

## United Kingdom

- Partnered with Channel 4

- GMV run rate grew by 60% over past six months

- Showing promising results from media partnership strategy

## Australia

- Announced partnership with oOH media for brand awareness

- $6 million media deal in exchange for $5 million convertible note

# Business Model

- Open community and infinitely horizontal model

- User-generated content drives task creation

- Similar types of tasks across different markets

- Physical, real-world jobs less likely to be automated or replaced by AI

# AI and Technology

- Core business model well-positioned against AI threats

- Exploring AI for operational efficiency (e.g., customer service, development)

- Potential AI applications in product and user journey improvements

- Cautious approach to AI investment, focusing on education and skill-building

# Marketing and Brand Awareness

- Emphasis on building brand awareness to drive marketplace liquidity

- oOH media partnership provides $6 million in outdoor advertising across Australia

- Out-of-home media seen as unmissable and highly trusted form of advertising

- Exploring contextually relevant advertising opportunities

# Financial Strategy

- Focus on capital efficiency and profitability

- Convertible note structure with oOH media provides flexible financing options

- Aiming to leverage media partnerships for cost-effective growth

# Future Outlook

- Plans to reinvest in growth while maintaining positive free cash flow

- Expanding media partnership strategy to accelerate growth

- Exploring opportunities to create high-quality marketing content for larger audiences

- Continued focus on discipline and profitability as an ASX-listed company

This content is factual information only, does not contain financial product advice and has not been prepared in consideration of your personal circumstances or needs. Views shared by individuals are their own personal views and not the views of Sub11. We are not licenced to provide financial product advice and cannot make investment recommendations to you. Investments carry risk. Please consider seeking professional financial advice, and read the relevant disclosure documents, before making any decisions to invest in financial products.

- LiveHire is a B2B recruitment software technology founded in 2011

- Provides a talent community platform for candidates to express interest in companies

- Offers two-way texting capability for improved communication

- Over 200 clients in Australia and about a dozen in North America

# Key Features and Benefits

- Reduces time to hire by almost 50%

- Increases diversity rates by approximately 30%

- Improves candidate quality and speed of hiring

- Average response time on the platform is 17 minutes

- Enables total talent acquisition (contingent and permanent hiring)

# Recent Performance

- Improved financial position and underlying fundamentals

- Reduced cost base

- Strong net revenue retention metrics in SaaS business

- Achieved cashflow positive quarter

- 35% growth in North American business over last six months

# Industry Trends

- Shift towards multidimensional work (contractor, permanent, gig economy)

- Companies need more agile workforce strategies

- Increasing focus on total talent acquisition

- Growing importance of direct sourcing in contingent hiring

# North American Market

- Same technology platform as Australia

- Well-suited for Fortune 100 companies transforming contingent hiring

- Nearly 50% of labor market is contractor-based

- Potential for significant cost savings for clients

# Partnerships

- Manpower Tapfin partnership for direct sourcing

- SAP partnership for total talent capability

- Integration with both permanent and contingent hiring processes

# AI Integration

- Viewed as an opportunity, not a threat

- Uses third-party AI (e.g., Anthropic Clod) for specific functions

- Focus on ethical AI implementation

- AI applications include job description creation, CV parsing, and skill matching

- Emphasis on improving recruiter and candidate experience

# Company Strengths

- Humanized technology approach

- Adaptability to changing labor market dynamics

- Strong platform fundamentals

- Committed staff and high client satisfaction ratings

- Survival and growth through challenging economic periods

# Future Outlook

- Positioned to meet evolving labor market needs

- Continued focus on growth and cost management

- Expansion of AI capabilities in recruitment processes

- Potential for further global expansion

This content is factual information only, does not contain financial product advice and has not been prepared in consideration of your personal circumstances or needs. Views shared by individuals are their own personal views and not the views of Sub11. We are not licenced to provide financial product advice and cannot make investment recommendations to you. Investments carry risk. Please consider seeking professional financial advice, and read the relevant disclosure documents, before making any decisions to invest in financial products.

• Open Learning is a lifelong learning platform that enables education providers to build, deliver, market, and sell their courses online globally.
• Founded in 2012 with the mission to increase access to higher-quality education.
• Currently has 3.5 million learners, 250 education providers, and partners with top universities in Australia and Southeast Asia.

Adapting to COVID

• COVID did not significantly accelerate online learning as expected due to the time and expertise needed to design effective online courses.
• Most institutions opted for a quick fix by replicating face-to-face classes on video conferencing platforms.
• However, the pandemic heightened awareness of the potential of online learning, especially for lifelong learning programs.

Partnerships and Relationships

• Open Learning works with over 250 education providers, including universities, TAFEs, and private institutions.
• They provide an end-to-end platform that integrates course building, delivery, student management, payments, and e-commerce.
• Institutions can rapidly move their lifelong learning programs online without the need for complex systems integration.

Lifelong Learning Trends

• Consumers are increasingly interested in professional and lifelong learning through short courses and micro-credentials for upskilling and job outcomes.
• These courses are typically shorter in duration (4-12 weeks) and focused on specific skills like data analytics, AI, or digital marketing.

AI Integration

• Open Learning has leveraged GPT-4 to develop AI tools that assist educators in building and designing courses, reducing time and costs by 80-90%.
• The AI course builder allows educators to select learning styles, generate course structures, content, activities, and assessments, with the educator acting as an editor.
• AI enhancements are expected to drive adoption of the platform and accelerate growth.

Acquisitions and Growth Plans

• Open Learning acquired an education marketplace business to enhance course discovery and marketing for their partners.
• The company is focused on profitability and growing software-as-a-service revenue, with AI playing a key role in driving adoption and efficiency.
• Long-term plans include expanding into employability, connecting learners to employment opportunities, and closing the loop on the discovery-learning-employability cycle.

Conclusion

• CEO Adam Brimo is excited about the impact Open Learning is having on education quality and the opportunities presented by AI for enhancing the educational experience and driving growth.

ASX Code : OLL

This content is factual information only, does not contain financial product advice and has not been prepared in consideration of your personal circumstances or needs. Views shared by individuals are their own personal views and not the views of Sub11. We are not licenced to provide financial product advice and cannot make investment recommendations to you. Investments carry risk. Please consider seeking professional financial advice, and read the relevant disclosure documents, before making any decisions to invest in financial products.

• Ash Jones, CEO of Bryah  Resources, discusses the company's operations, asset portfolio, and market insights with Chris Titley of the Sub11 podcast.

Company and Operations

• Bryah  Resources is a small junior company with valuable assets, including a manganese JV with RMH Hollins and another JV with Australian Vanadium.
• They have a diverse portfolio of assets, including lithium, copper, and degreaser (high-risk, high-reward copper target).
• The company's operations are based in the Bryah Basin, known for its copper deposits, with Sandfire's DeGrussa as the biggest success story.
• The region is also prospective for manganese and gold, with the Fortnum Goldmine nearby.

Market Insights

• Manganese market was subdued but recently jumped from $2.80 to $5.60 due to a cyclone damaging South 32's Groote Eylandt deposit, affecting 25% of the world's manganese trade.
• Ash expects this high price to sustain for ~15 months, providing an opportunity for Bryah  Resources.
• The copper market is expected to grow due to electrification, with increased demand for electric engines requiring more copper.
• Studies suggest a need to double copper production in the next 30 years to achieve net zero, ensuring long-term demand.

Joint Ventures and Projects

• The Copper-Nickel-Gold Project with Australian Vanadium involves processing their tails to extract copper, nickel, and cobalt sulfides without mining or processing ore.
• Bryah  Resources focuses on adding value to its assets through exploration and monetization, with a proactive approach to capital allocation.

CEO Insights and Resilience

• Ash emphasizes the importance of technical expertise, exploration, and making their own luck through smart drilling with investor funds.
• He acknowledges the challenge of balancing market sentiment with personal beliefs, adapting messaging to align with shareholder expectations.
• Resilience in the mining industry requires the right personality, a combination of luck, timing, and taking action through exploration and drilling.

This content is factual information only, does not contain financial product advice and has not been prepared in consideration of your personal circumstances or needs. Views shared by individuals are their own personal views and not the views of Sub11. We are not licenced to provide financial product advice and cannot make investment recommendations to you. Investments carry risk. Please consider seeking professional financial advice, and read the relevant disclosure documents, before making any decisions to invest in financial products.

Steven delves in to the history of the business , the growth of the portfolio and the importance of PTX-100 to the business.

Steven talks about the importance of PTX-100 , the process of design, the testing, how it works and also how meaningful the future results are.

Steven also talks about the timeline of broader advances in medicine, the time, the effort as well as trends in AI.

This content is factual information only, does not contain financial product advice and has not been prepared in consideration of your personal circumstances or needs. Views shared by individuals are their own personal views and not the views of Sub11. We are not licenced to provide financial product advice and cannot make investment recommendations to you. Investments carry risk. Please consider seeking professional financial advice, and read the relevant disclosure documents, before making any decisions to invest in financial products.

1. Muval is a booking platform for moving house, similar to booking.com but for moving services.
2. The company was founded in 2018 by James Muval and his co-founder Mahdi, who noticed underutilized space in moving trucks.
3. Muval leverages technology to connect customers with moving companies, allowing for discounted prices and better space utilization.
4. The platform addresses the industry practice of backloading, scaling it across the country.
5. Moving is identified as a key moment for consumers to change consumption habits, presenting opportunities for various services and products.
6. The moving industry was largely untouched by technology, presenting an opportunity for Muval to innovate and solve pain points.
7. Muval faced the classic marketplace challenge of balancing supply and demand, eventually establishing a credible name that attracted moving companies.
8. The company focused on unit economics and organic search to efficiently acquire customers on the consumer side.
9. Trust and customer reviews are crucial for Muval, with a focus on turning negative feedback into positive outcomes.
10. Customer feedback drives product innovation, focusing on convenience, good pricing, and expanding service offerings.
11. Muval has repeat customers and targets specific life moments for moving, using content and partnerships to stay relevant.
12. The company has benefited from angel investors and a family office, valuing their network and support.
13. Muval future plans include expanding distribution, focusing on corporate relocations, and continuing to scale the business.
14. Advice from fellow startup founders about the reality of startup struggles has been valuable for resilience and solidarity.

This content is factual information only, does not contain financial product advice and has not been prepared in consideration of your personal circumstances or needs. Views shared by individuals are their own personal views and not the views of Sub11. We are not licenced to provide financial product advice and cannot make investment recommendations to you. Investments carry risk. Please consider seeking professional financial advice, and read the relevant disclosure documents, before making any decisions to invest in financial products.

Tom talks about the history of Contact, some of their existing investments, the importance of dividends, the current market conditions as well as some of his stories around hits and misses with various investments.

Content was obtained as Fact from 16/01/2024 - BKI Investor Presentation - HY24 Results 

This content is factual information only, does not contain financial product advice and has not been prepared in consideration of your personal circumstances or needs. Views shared by individuals are their own personal views and not the views of Sub11. We are not licenced to provide financial product advice and cannot make investment recommendations to you. Investments carry risk. Please consider seeking professional financial advice, and read the relevant disclosure documents, before making any decisions to invest in financial products.