I exited my entire position in icetana a while ago, but today I...

I exited my entire position in icetana a while ago, but today I saw this article:

https://www.itnews.com.au/news/ai-cameras-to-detect-violence-on-sydney-trains-552635

It seems that at least one new entrant is coming to the market, with some cutting edge AI technology.

This doesn’t paint a rosy outlook for icetana, since their technology, as I understand it, was developed in 2009 and is still in use. AI has advanced a lot since then. It may be more difficult to sell an older product when competitors are offering additional features such as fight and COVID detection.

Ultimately icetana’s fate will depend on whether it can make enough sales to outweigh costs.

The last two quarterly reports show a concerning burn rate (although I acknowledge the efforts of management to reduce costs). However, without very significant new sales, cash reserves will be depleted in a few more quarters.

At present, I believe that this stock is overvalued, and I believe the fair value is around $0.05. This reflects the cash reserves plus a small premium.