I’ve recently added iCetana to my watch list (ICE). 

In summary they are a 6 million dollar Market Cap Company that specialises in CCTV Camera Sales as well as Licensing its AI driven video analytic software.

Positives

• FY24 Annual recurring revenue will be approximately 1.9mil representing 16% growth on its pcp.
• FY24 total revenue will be approximate 3.4mil (2nd quarter had a larger one of sale)
• In FY25 they will start taking North American Sales

Risks

• they will likely have to capital raise inside 12 months
• At the current Market Cap any Cap raise will be quiet dilutive
• Extremely illiquid
• Profitability could be some time away
• Every other risk associated with unprofitable micro caps

icetana secures order for Middle East shopping mall implementation through reseller NIT

Highlights:

~ icetana receives a purchase order for its motion intelligence platform for a large shopping mall site in the Middle East valued at US$138,000 over the first 12 months of service.

~ The order represents a further expansion of icetana’s strong presence in the Middle East surveillance market adding to over 7,000 shopping mall surveillance cameras currently utilising icetana in this territory.

~ The end-user operates several high-end shopping malls providing an opportunity for potential further growth.

Disc: I have small holding

Amended - icetana secures order for Singapore casino customer through reseller Prosegur

icetana Limited (ASX:ICE “icetana” or “the Company”) wishes to advise that the material terms advised in this morning’s ASX release have been amended as follows:

Prior disclosure:

~ The payment terms from Prosegur to icetana for these orders are on 30 day terms following payment by the end user to Prosegur which will occur monthly under the contract.

Amended disclosure:

~ The payment terms from Prosegur to icetana for this order are on 30 day terms which will occur monthly under the contract and is not dependent on the payment to Prosegur from the end-user.

Disc: I have small holding

icetana secures its largest SaaS order for Singapore integrated resort customer

Highlights:

~ icetana receives an order for its motion intelligence platform from reseller Prosegur for a large Singapore integrated resort operation valued at S$550,000 in aggregate for a 3 year licence term.

~ The order represents icetana’s first integrated resort customer outside Australia.

~ Potential pathways to further integrated resort opportunities globally.

Disc: I have small holding