SP3 positive trading update.  $815k in revenue and positive EBITDA for May; raising group annualised recurring revenue (ARR) to more than $3m. Forecasting Q4 FY21 revenue of $1.8m and FY21 revenue of $5.2m. 30 June cash balance expected to be above $1.3m. May 2021 is also the first month in which Spectur has recognised positive EBITDA, with unaudited results indicating a positive May EBITDA contribution of more than $100k

In the month of May 2021, Spectur sold 60 units, a volume not seen since June 2019.

Looking beyond the Company’s immediate generation of increasing revenues and cash, the Spectur sales pipeline remains healthy, with probability-weighted opportunities currently in excess of $4m. 

SP3 released an annoucement today providing record revenue numbers for Feb 21 of $471k and Jan 21 of $404k. 

They also signed Surf Life Saving WA.  TCV of $250k. 

Additional hosting, maintenance and web interface subscription revenues will be paid over 24 months following installation. Penetration in the utility markets with 10 new Spectur systems installed since start of the year.

The thing is that the record revenue figure were released the day before in the NWR presentation slides.  The only new information was the Surf Life Saving WA contract and utility sales. 

The market didn't really react much yesterday with only a +4% increase.  But today, it pops on the reopen +26%.

You just needed to dig a bit deeper to get the information by going through the slides which would have enabled you to by yesterday rather than the more expensive prices today.

25 Nov 20: Small illiquid microcaps with savage share price flucuations has been one of the aspects of the market in 2020.

SP3 annouced good sales in October after disappointing this year.  A massive share price appreciate to almost double the recent 5c capital raise price.  Profit takers have come in but still holding at this stage.  

The share price has fallen significantly since it's IPO and highs of >35c. 

So it could go significantly higher if it can absorb the selling pressure and the sellers dry up.

15 Aug 20: SP3 offered a Share Purchase Plan (SPP) for $500k @ $0.05.  They took oversubscriptions to end up raising $945k.  3 of the directors applied for the full amount of $30k each and were scaled back.  Normally you expect to see the share price head lower towards the SPP price but there has actually been increased volume and price.

Significant insider buying

5 May 20: Cooper +400,000 for $23,200 @ 5.8 [1.5m]

24 Apr 20: Dyson +165,000 for $10,230 @ 6.2c [1.08m]

24 Mar 20: Cooper +250,000 for $20,000 @ 8c [1.1m] off market from founder

24 Mar 20: Bodeker +250,000 for $20,000 @ 8c [363,424] off market from founder

17 Mar 20: Dyson +293,000 for $20,519 @ 7 [893,300]

25 Oct 19: Biljana Smith +200,000 for $21,087 @ 10.5 (200,000)

24 Oct 19: Darren Cooper +100,000 for $11,000  @ 11 (850,000)

26 Aug 19: Darren Cooper +394,398 for $51,272 @ 13 (750,000)

26 Aug 19: Gerard Dyson +307,693 for $40,000 @ 13 (500,000)

16 Apr 19: Stephen Bodeker +76,923 for $10,000 @ 13 (113,424)

11 Apr 19: Darren Cooper +155,602 for $nil (in lieu of cash for NE Chair fees)

5 May 20: EGP Capital become a substantial holder briefly and then ceased to enable a sell down from the previous CEO.  This has removed an overhang of shares.  EGP is positive about the long term nature of its investment but it is too small market cap for EGP.