A partnership deal with Esri has been signed -- see here

Very thin on financial detail, but part of a big strategic shift to deliver their data through established GIS platforms. 

Esri is part of Boustead Singapore, a $350m market cap enginerring and technology company.

The geo-spatial division, to which Esri belongs, generated $116m in revenue last year, and operates on a pre-tax margin of ~25%. (Boustead Annual report is here) Esri has the biggest market penetration for Geospatial Information Systems in Australia -- about 3/4 of market.

Boustead's geo-spatial division has 13,000 clients in the Asia-pacific region. Compared with ~110 or so that Aeeris has

Be aware that shares are extremely thinly traded.

As i write this (15th April), there are only 3 sell orders, one at 6c, one at 15c and one at 19c (!!!!)

It would cost you ~$3k to wipe out all the sell orders.

For this reason it will be extermely difficult for all but the smallest investors to take a stake, it will almost certainly never get any attention (and therefor advocacy) from fund managers. 

It would very tough to sell out in a timely manner.

A shame, as I think there's a lot of potential with this company

Just some eary notes:

Value Proposition: protect your people and assets from natural and man made risks. It aggregates geospatial data from various soruces (EG BOM.gov.au) 

History

Listed in mid-2015 with a market cap of $16m, and shares at 25c

Lost a major client in early FY17, which supposedly chose a cheaper (although apparently inferior) product. At present, no single client represents more than 11% of revenues.

All intangibles written down to zero in FY17

In FY17 they began significant cost cuts. Reduced staff levels from 21, to 9 FT and 3 contractors.

Clients

Clients include: Insurance, water authorities, councils, construction. But government & Insurance are major customers.

Have >100 large enterprise and government clients

Govt. are slow to convert, but expecting a few to do so over FY19

Inbound sales enquiries tend to come through word of mouth and the ewn.com.au website

More than a few references to these acronyms:

GNIS: Geographical Notification and Information System

EWN: Early Warning Network  

Products: Products are packaged from the core EWN's GNIS. There is the "Intelligent Flood Alerting System", "Intelligent Contractor and Workforce Management System"

Kerry Plowright -- CEO, Chairman and founder. Owns ~40% of the business and is on $150k per year

No debt, $1m in cash. Cash flow positive. Balance sheet extremely clean, with no intangibles or goodwill. Software platform is valued at nothing

For a couple years now the business has been actively seeking strategic acquisitions, and continues to talk about its interests here. Nothing yet executed, which may be a good sign of financial discipline. 

Most revenue is recurring. 

Prospectus here

2015 Annual report here

2016 Annual Report here

2017 Annual Report here

2018 Annual Report here