One part of the capital raise is being used to deepen the relationship with Verizon.
Banksy, I don't know if I can contribute much more to the conversations on this. In actual fact, it could be as simple as Verizon wanting to use Dataflex for their employees in 2017. So Syntonic would possibly need the cash to set things up.
Speaking of Dataflex, it will be huge, plus, carriers who are not part Dataflex are in danger of losing subscribers to the carriers who are part of Dataflex - another strong motivation for carriers to sign up with Syntonic.
Digressing slightly, I have had a thought about another potential income stream (my apologies if this has already been mentioned). In the next couple of years I expect the Syntonic platform to be operating on every continent, as such this could set up a potential Syntonic roaming app for data. For example:
- A Telstra user downloads the data app before going overseas to a non-popular country like Bhutan, where he gets all his data with no fuss or bother via the Syntonic data app (the Bhutan telco has a deal with Tata, so it bills Tata, who bills Syntonic, who bills Telstra, who bills the user a slightly higher rate than he'd normally pay, but is happy to do so for the convenience). Syntonic take a cut of the process.
- It could also happen in a country like the US. Yes, Telstra may have a deal with a carrier that costs the same for the user to use (ie- AT&T), but by using the Syntonic data app, any roaming black holes in the AT&T network would be hopefully covered by the other networks (such as Verizon) that are part of the Syntonic platform. Plus I actually think the Syntonic data app's US data may even be cheaper than what Telstra may have to charge a subscriber for US data.
- Plus if the user is visiting many countries, hopefully in a couple years time Syntonic's Global coverage will make the Syntonic data app a necessity when wanting non over-priced consistent data when travelling.
Anyway, just some more food for thought.
SYT Price at posting:
3.3¢ Sentiment: Hold Disclosure: Held
