Leverage screen time habits for micro learning moments

Live 1Question Pty Ltd

1Question Pty Ltd | Equity Crowdfunding

Equity Crowdfunding Type of Offer
$8 millionPre-money Valuation
$500 Minimum Investment
Up to $2 million Size of Offer

Min. Reached - Targeting $2 million

327%

$1,634,126

Raised

6%-20%

Equity

321

Investors

Closes in

1d
1h
1m
1s

​Please consider the offer document and general risk warning before investing.

Investors are entitled to a 5 day cooling-off period.

Investments over $10,000 are restricted to Sophisticated investors - Apply here

 

1Question Fireside Chat available here

About 1Question

1Question is an educational app that requires children to answer a curriculum correct question before accessing other apps.

Want to learn a TikTok move? ….sure, but first ...what’s 7 x 8?

Want to post to Instagram? Go for it .. but first ….. What’s the square root of 6,384? (just kidding but you get the idea).

We built it because as parents to 3 daughters, we know the screen time struggle is real.

Engagement is the holy grail of Educators.
Without engagement there is no learning.

 

There are few moments during the day when my daughter is more engaged than when she presses that Tik Tok button. 1Question leverages this very engagement moment to create a micro learning moment. Lots of them - Every. Single. Day.

1Question is ingeniously simple. But the technology is incredibly intelligent.

 

Problem / Solution

Learning is a lifelong journey. And to learn, we must be engaged. But we only have 24 hours / day to engage with anything.

The ‘average’ mobile phone user spends 5.5 hours a day on their phone and Australian kids are spending on average, up to 7 hours a day on their devices. Increased screen time can reduce engagement and lead to ineffective learning.

How do we let kids enjoy screen time while turning it into engaged learning? That’s 1Question.

Starting with our K-12 app and then into our educational marketplace, 1Question converts digital course content into micro learning moments. Consider the possibilities - there are billions of mobile phone users short on time to engage with learning and an abundance of digital learning courses lacking a way to connect. Join the two and you get 1Question.

 

Investor Highlights

  • Unmet Market Need: 1Question has identified a clear unmet market need among consumers wanting to leverage existing engagement with mobile devices into productive educational micro learning moments. 
  • Clear Go to Market strategy: It is simple and proven. We’ve partnered with Google to target parents of children in years 1-9. 
  • Innovative Solution: 1Question has developed a unique, proprietary solution that integrates advanced AI and Educational content to create micro learning moments during consumer’s daily engagement with mobile devices.
  • Strong Traction: Since our launch on the 17th of April, 1Question has achieved over 10,000 downloads with consumers. 
  • Experienced Management and Advisory team: The 1Question team developed an idea into a live product in less than 8 months. We know how to execute, and we know how to identify and recruit key talent. 
  • Supported by Google: 1Question has been accepted into the Google Accelerator program for User Acquisition 
  • Significant tax benefits from ATO: 1Question has achieved a favourable ruling from the ATO, recognising 1Question as an Early-Stage Innovation Company (ESIC). 
  • As featured on Channel 7 News. Watch here.  To view more 1Question videos click here 

Market Dynamics

  • The digital education market size is projected to grow at 33.28% (CAGR) between 2020 and 2026
  • As screen time increases, available educational engagement time is reduced.

1Question is perfectly positioned at the nexus of these gigantic and compounding macro forces. 1Question, using natural language processing in combination with machine learning and advanced AI, is developing a tool to substantially automate the conversion of existing digital courses into micro learning-based curriculum for delivery through the 1Question platform. Unicorns Udemy and Coursera, along with other educational marketplaces have spent years building the EdTech market we have today. 1Question leverages their hard work with the simplicity of an API; substantially automating the conversion of content to questions.

Product

Governed by an advanced AI engine, 1Question understands the students’ areas of strength and weakness and charts a customised path through the curriculum - enabling improved learning.

  • The library of questions was devised from the national curriculum and developed by educators.
  • Our learning protocols incorporate our proprietary version of the Leitner learning system (a widely adopted learning protocol for flashcard style learning), spaced repetition and item response theory - all feeding data into the AI engine. The AI engine monitors, controls and predicts learner performance - adapting to each learner by adjusting the protocols accordingly. Since every person learns differently, the process is tailored according to individual needs, resulting in enhanced learning outcomes.

And, our dynamic reporting module provides parents with real-time information on students’ progress:

  1. How much time have they spent answering questions? … congrats - time that you reclaimed from unproductive apps!
  2. Levels of mastery in the different topics they are studying.
  3. Learning progress over time.

Shareable, actionable and real time information on learning progress.

Opportunity

There are countless other apps out there to help you learn. But all of them require you to engage with the app. To carve out time from your day and dedicate that time to the app. And who has time to do this, consistently? So, engagement is low and learning is slow.

1Question seamlessly creates micro learning moments by leveraging existing engagement. And because of that, we help you learn faster.

In fact, any one of us can reclaim unproductive time using the 1Question platform and learn just about any subject - from a foreign language to first aid, coding, gardening, food-handling, drivers license tests, real estate license, how to get twitter followers, and so much more - it’s endless. 

We’re not k-12 we’re K-Grey and our market is colossal.

To allow us to scale quickly, we invite Educators to create micro engagement based curriculums on an infinite number of topics. And, we pay them a commission of our subscription revenue. 

Everybody loves 1Q in the K-12 market. But it’s the appreciation of the absolute scarcity of engagement time along with the scale and speed an open platform like 1Q and a community of educators can sustain is what makes 1Question a truly massive opportunity.

Management and Board

Issac Elnekave

CEO

Results oriented, with 25 years' experience building and growing businesses. A dynamic leader, highly skilled strategist & negotiator.

Ann Elnekave

COO

Background in operations and logistics in retail, wholesale & manufacturing industries. Extensive experience in systems development & implementation, execution of organisational strategy.

Dr. Mohammad Naim Rastgoo

CTO, Chief AI Scientist

A demonstrated history of working in the higher education industry. Skilled in managing a startup from scratch; developing cloud-based applications based on AI, Data Analysis, Machine learning, Deep learning using Python, React, React Native, Laravel, Cloud platforms ( Azure, AWS).

Jamie Davison

CFO

Co-founder of Carbon Group - the 2020 and 2018 National Firm of the Year at the Australian Accounting Awards. Coming from a property investment and accounting background, Jamie formed Carbon Group to provide core functionalities to business owners including accounting, advisory, R&D, Bookkeeping, payroll, business system, insurance, finance and financial planning.

Terms of the Offer

Issued Capital

Significant Shareholders

* Carbon Capital Pty Ltd, an entity controlled by 1Question CFO, Jamie Davison, is supplying finance related services to the Company. Carbon Capital Pty Ltd as trustee for Carbon Capital Unit Trust has entered into a share vesting agreement for the equivalent of $100,000 of additional shares in the Company, based on the price of shares issued in the crowd-sourced funding raise. With the share price set at $0.53, an allocation of 188,679 unvested shares has been added to the Issued Capital Table. Vesting is set at 1/26th of the balance at the end of each month over a twenty six (26) months period; provided that Carbon Capital Pty Ltd remains engaged by the Company. The first vesting date is 31/05/2021.

Use of Funds

Company Risks

1Question Pty Ltd is an early-stage business converting digital course content into micro learning moments. Then seamlessly redirecting a portion of daily ‘unproductive’ screen time into productive learning. Their Artificial Intelligence engine monitors, controls and predicts learner performance - adapting to each learner by adjusting the learning protocols accordingly. As with any early-stage business, an investment in the Company should be seen as high-risk and speculative. A description of the main risks that may impact our business are listed in the offer document. Investors should read this section carefully before deciding to apply for shares under the Offer. There are also other, more general, risks associated with the Company (for example, risks relating to general economic conditions or the inability to sell their shares).

See the Risk section in the Offer Document for further information.

The Offer is subject to a Maximum Subscription amount of $2,000,000. If the Maximum Subscription is reached, the Offer will close early. Applications will be treated on a time priority basis and may be subject to scale back, so please fund your application as soon as possible

Risks

IMPORTANT: Please read the below information before investing in this Equity Crowdfunding offer.

RISK WARNING:  Crowd-sourced funding is risky. Issuers using this facility include new or rapidly growing ventures. Investment in these types of ventures is speculative and carries high risks. You may lose your entire investment, and you should be in a position to bear this risk without undue hardship. Even if the company is successful, the value of your investment and any return on the investment could be reduced if the company issues more shares. Your investment is unlikely to be liquid. This means you are unlikely to be able to sell your shares quickly or at all if you need the money or decide that this investment is not right for you.

Even though you have remedies for misleading statements in the replacement offer document or misconduct by the company, you may have difficulty recovering your money. There are rules for handling your money. However, if your money is handled inappropriately or the person operating this platform becomes insolvent, you may have difficulty recovering your money. Ask questions, read all information given carefully, and seek independent financial advice before committing yourself to any investment.

5 DAY COOLING OFF PERIOD: There is a 5 business day cooling off period for retail investors. During this period, you may withdraw your application and receive a full refund into your nominated refund account. Please note: After the 5 day cooling off period has expired, you will be unable to withdraw your application. More information here.

ONMARKET FEES: Upon successful completion of the Offer, a maximum fee of 6.5% of the funds raised will be paid to OnMarket by the Company.

ONMARKET INTERESTS: OnMarket and its associates may be participating in this offer.

ONMARKET INTERESTS AND AMOUNTS SUBJECT TO COOLING OFF: The funding bar displayed under each crowd funding offer may include applications where payments are yet to be made and amounts that are subject to the cooling off period.

Section 734(6) disclosure: The issuer of the securities is 1Question Pty Ltd ACN 643 556 889. The securities to be issued are fully-paid ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).​

Question time

We'd love to answer your questions, we'll have one of the OnMarket team or the company representative of the offer get back to you asap. So ask away ...

Investor for 1Q Crowd-sourced Funding

Hi,

1. Is there any Preference Shares?
2. In case I want to sell part of my shares after a few years, what are the procedures?
3. Would there be a 2nd round of Crowd Funding in the future?
4. When would the dividend be paid?
5. If I invest $1,000 and the share price is $0.53, is it correct to say I will have 1,886 shares?

Best Regards,
Kenny Koo

Ah-Fah Kenny Koo Tee F (OnMarket member) on 24/05/2021

Hi Kenny,

Thanks for reaching out. Answers in order below:

1) There are no preference shares.
2) This depends on if 1Question is listed at the time you choose to sell or not. However, i would urge you to consider the tax implications of our ESIC status as well as the offer document and constitution.
3) The current fundraising plan considers a hybrid Crowd / VC raise in the U.S. next year.
4) We do not expect be paying dividends while the business is in its growth phase. I am unable to provide guidance as to how long this will last. If dividend income is central to your investment strategy, I would suggest 1Question may not be the right fit.
5) Your math is correct.

Kind regards,
Issac Elnekave - Co-Founder 1Question.

Issac E (1Question Pty Ltd representative) replied to Ah-Fah Kenny Koo Tee F on 26/05/2021
Question about iOS Support for Kids App

Hi there,

First of all, this is a really good idea but my main concern is how will this work on the iOS platform. Apple is a very closest platform. I am from tech industry so I believe what was achieved on Android might not be achievable on iOS - is there a plan to support iOS for Kids in the future and whether that is a technical blocker at this stage?

Thank you

Rahul J (OnMarket member) on 27/05/2021

Hi Rahul and thanks for the kind words and taking the time to ask the question,

You are correct Android and iOS differ. Our current approach to solving iOS is via an MDM solution (although one specifically designed to avoid privacy concerns). An MDM or Mobile Device Management solution is the same type of technology that many existing Parental Control apps use as well as many Corporates. This underlying layer is expected to provide us with the same ability to require a question to be answered before a target app is able to be used.

Kind regards,

Issac E (1Question Pty Ltd representative) replied to Rahul J on 27/05/2021
Possible Listing

Hello, are there any plans to undergo an ASX listing in the near future?

Anthony S (OnMarket member) on 27/05/2021

Hi Anthony and thanks for the question.

We are actively exploring a number of different funding strategies. With regards to a listing specifically, we're in learning mode. We have not mapped this out yet so I can't rule it out.

Kind regards,

Issac E (1Question Pty Ltd representative) replied to Anthony S on 27/05/2021
Question about balance sheet

We noticed that your company has a CEO, COO, CTO, AND A CFO. How is your balance sheet only showing $102500 in wages as of report period 17 Aug-30 April only? Also, why is cash at hand only $100 dollars

DAVID S (OnMarket member) on 30/05/2021

Hi David,

Thanks for the questions.

Our CFO joined in May so he fell outside of the reporting period (Sept-April). Our CEO, COO and CTO are also our Co-Founders and, like most founders, have been prioritizing equity growth over salaries.

Cash on hand is actually $308,995.00 the $100 is physical cash that I withdrew from the bank.

Kind regards,

Issac E (1Question Pty Ltd representative) replied to DAVID S on 30/05/2021
grades

When will apple be added and grades 8-12?

DAVID S (OnMarket member) on 30/05/2021

Hi David,

We're expecting grades 8 and 9 in the next couple of weeks and 10 / 11/ 12 in July / early August. iOS is scheduled for release in Q4 of this year.

Best,

Issac E (1Question Pty Ltd representative) replied to DAVID S on 30/05/2021

Hi David,

Following up on the above - I'm pleased to share that Year 8 & 9 are now live on 1Question.

Kind regards,

Issac E (1Question Pty Ltd representative) replied to Issac E on 09/06/2021
Valuation

Hi 1Question,

The capital raise values your company at between $8.5m and $10m (post money).

You value your sweat equity at $5.3m.
The SAFE notes are valued at $2.7m - over 4x the initial investment.
CSF notes make up the balance.

When will When were the SAFE notes issued? What is the rationale for the increased issue price of 12c to 53c?

For future capital raisings, especially with being a start-up, I would like certainty of being offered a placement (with invitation to new investors only if placements aren't taken up).

Ben M (OnMarket member) on 09/06/2021

Hi Ben,

Thanks for taking the time to ask the below.

The safe notes were issued before 1Question deployed the current Parent and Child apps. At that stage, we were pre-product and pre live users (outside of beta testers). Since then, a considerable amount of risk has been mitigated which is reflected in the increased valuation. We expect the valuation to increase again when we deploy our iOS solution.

The nature of a crowdfunding campaign means that everyone is treated equally, which meant that our existing safe note holders were only able to bid for shares at the same time that those which expressed an interest via OnMarket were able to bid for shares. I'm pleased to share that the vast majority of our safe note holders are participating in this round as well.

Kind regards,

Issac E (1Question Pty Ltd representative) replied to Ben M on 09/06/2021
Shares

Could you send me the application for shares please.
Thanks
Eileen

Eileen M (OnMarket member) on 09/06/2021
Results from Ad Spend

Hi Isaac,

Can you tell us what have been the results from the $55k of ad spend you incurred (and any since)? What channels have been used, and can you give some insight into the cost of acquisition?

Also where your Offer Doc mentions $2.99 AUD subscriptions, presumably this is on a monthly basis?

Kind Regards,
Mike

Michael C (OnMarket member) on 10/06/2021

Hi Mike,

The $55k comprises of approximately $25k spent in marketing the equity crowdfunding raise and about $30k over 8 months in various marketing activities - including website testing, beta program user acquisition, facebook marketing etc. We did not begin to acquire customers until 17 April.

Our customer acquisition channel is almost purely via performance ads within the Google network. It's still far too early to pin down a cost of acquisition however I can share that our first app install (on 17 April) cost us $7.41 and by Monday of last week, the performance team had the cost of an install down to an average of $2.14. We believe there is still room to improve on this number.

In terms of our revenue model. We currently charge AUD$2.99 / month in Australia. USD $2.99/month in the U.S. and GBP$2.99/month in the UK (which ... is actually our largest market). We are going through a price discovery exercise so, these are just our starting points.

Kind regards,

Issac E (1Question Pty Ltd representative) replied to Michael C on 10/06/2021
1Question

Wouldn't it be easy enough for kids to Google the answer to a question rather than bother to answer the question themselves if they really don't want to? This could lead to a false idea of a child's learning progress over time if they repeatedly 'cheat' the system. Have you done 'real life testing' to see how kids of different ages engage with the question-locked apps or try to bypass it? If they get the answer wrong, is it a new question each time or repeated question, whereby they could rapidly guess and go through the 4 or 5 responses if they really don't want to think through an answer?

Daniel S (OnMarket member) on 10/06/2021

Hi Daniel,

Some awesome questions there - lots of them :) Can I suggest we move this to a zoom call where I can offer a deeper dive into any of these areas. Email me directly at Issac@1question.app and we can set up a time.

For those reading: If you would like to join this zoom session (even just to listen) - please send me a note and I'll let you know details once Daniel and I have arranged a time to talk.

Many thanks,

Issac E (1Question Pty Ltd representative) replied to Daniel S on 10/06/2021

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1Question Pty Ltd

1Question Pty Ltd
Groundbreaking app requiring kids to answer a study question before they can access other apps

 

1Question Fireside Chat available here

 

Want to learn a TikTok move? ….sure, but first ...what’s 7 x 8? Want to post to Instagram? Go for it .. but first ….. What’s the square root of 6,384 (just kidding but you get the idea)

 

1Question is an app that leverages existing screen habits to create micro learning moments. Lots of them. Every. Single. Day. Advanced AI understands the student’s strengths and weaknesses and customizes questions to accelerate learning.

 

1Question is backed by the Google accelerator program for User Acquisition. They are a company that is born global with a first mover advantage and a gigantic total addressable market.

 

ATO approved ESIC status delivering substantial investor tax benefits.

 

Before investing please consider the offer document and the general risk warning.

 

Min. Reached - Targeting $2 million

327%

$1,634,126

Raised

6%-20%

Equity

321

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