BUD Chart, page-165

Here's my 9.8 cents worth:

As I see it, when thinking about investing in a Tech spec you need to consider 3 themes:

1) The quality of the business - as measured by timing, team, funding, idea, business model

2) The speed of progress - as measured by the speed of evolution from prototype to working model to commercial deal-flow

3) The value of the deal-flow - as measured by $ revenues

(tech specs are going to be at different points on these 3 themes - some are still prototypes so revenue is far off; some have questionable teams; others have questionable timing; some have far less revenue than anticipated even after deal-flow has begun)

BUD has great scores across all 3. Quality + Speed + Value

BUD scores very highly on quality - its timing is perfect; has phenomenal team; well capitalised, clear revenue model, great ideas.

Its speed of progress is clearly accelerating. Ohm was conceptualised and executed in a few short months. It is now being deployed across multiple markets (US, HK, Oz...). The second batch of 10,000 is underway - this thing is moving surprisingly fast.

Parse is also accelerating - powered by the 'free forever' offer - Parse is experiencing rapid increase in both apps onboarding and customer mobiles using those apps. Its well on the way to being the leading hosting platform for apps in the world!!!

And the value is also increasing dramatically. Revenues are mounting up - when 10,000 buildings are hooked up Bud can expect around $90 million per year in revenue. By next year the revenue from 'alternative data will kick in - at up $100,000 per month per client - that could easily yield another $50 million per year. And then add major clients on the core platform estimated to another $6 million per year.

Specs SP often get ahead of themselves - this happened with BUD after initial launch - same with XPE, CR8, WGL, A3D, BRN and many more.

But BUD is now moving for real. This is fast becoming a mid-cap. That will bring more institutional engagement - yet another catalyst.