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Added 2 months ago
#Management

20 Aug 19

MD was happy to answer an email fairly quickly and receive feedback about the latest capital raising, that the next time the company should offer a SPP, especially if the directors have access to the CR at a discount to market prices.

 
Added 2 months ago
#Bull Case

On most recent 4C, progress has been steady. New partnerships in UK are staring to bear fruit and bigger partnerships have been inked. The graphs all heading in the right directions with cash flow positive in immediate future and hopefully enough funds after CR to get through to that point.

Very cash light business, incremental costs are minimal now platform built. Ideal looking SaaS.

Tailwinds are strong. (competition also, and SIS is a minnow)

TAM immense.

Looking forward to EOFY report to get some idea of useful metrics to be able to judge things a bit better

 
Added 2 months ago
#Funding

24 Jul 2019

Raised $1.89m to professional & sophisticated investors.

CEO and Chairman both to subscribe for $100,000 each in the placement.

Hopefully this will be enough to see it cash flow positive.

 
Last edited 2 months ago
#Risks

20 Aug 19

  • Not yet cash flow positive.  May need to raise cash in the future, though recent capital raise may see them through to CF positive.

24 Jul 19: Raised $1.89m at 5c iussing 37.8m shares.  MD and Chairman subscribe for $100k each. 

5 Feb 19: Issued convertible notes for $650,000.  Major customer, UCR Consultants took up $500k

 
Added 2 months ago
#Bear Case

Hard Brexit, the whole UK explodes in flames and all the little IoT devices go up in smoke.

Metaphorically

 
Added 6 months ago
#ASX Announcements - Significan

18 Apr 19: Substantial holder notice showing that Tribeca has been selling down its holding possibly explaining the significant downward pressure on the SP over the last month.

 
Last edited 2 months ago
#Bull Case

Cash receipts and contracts have been increasing and cash burn decreasing.  

Customers and Meters under managment rapidly increasing

18 Jan 19: Large contract with UCR Consultants with potential initial revenues of up to GBP2.2m (A$3.9m). 

240% growth in customer sites on IoT Platform for FY18

 
Last edited 2 months ago
#Industry/competitors

Competitors
Buddy Platform ($160m)
Bid Energy (~$30m)
EnergyOne (~$20m)
Building IQ (~$10m)
 

 
Last edited 6 months ago
#Funding
stale

Further $285k funding via 15c convertible note. Late March 2019

 
Last edited 2 months ago
#Business Model/Strategy

Formed by a merger of Acresta Group and Incipient IT (Vietnam) in Sep 2016.

Acresta was a mature SaaS provider which had served over 50 enterprise customers in AU, NZ and UK since 2009.

$5.5m invested in R & D capability. 

 
Added 8 months ago
#Bull Case
stale

competitive industry but huge upside esp as they partner with BID energy