Interesting, seems positive though not without risks. Also...

Interesting, seems positive though not without risks.

Also explains this: http://www.asx.com.au/asxpdf/20160415/pdf/436k4hn3vtpnmf.pdf

Funding is still a potential issue. On the last quarterly they spent $1.8m with $4.8m in the bank. Add $6m from EagleView and there's funding for 12-18 months depending on how expenses go.

The EagleView arrangement is not expected to be live until end of this year so we'll see some royalties this calendar year but probably no revenue share until next year.

On the bright side it seems likely that if things went well EagleView are setting themselves up as a likely acquirer.

The risks I see are two fold:

1. I don't have the details to understand the pros/cons from EagleView's POV, leaving open the risk that EagleView may have signed the exclusive rights for North America and end up not using the imagery for commercial reasons.

2. EagleView may like Spookfish's technology but bleed the company so it can buy it for a song. The worrying thing here is that the CN can be redeemed if Spookfish is unable to meet EagleView's specifications which in theory should be mitigated by written contractual agreement but a determined party with time on its side can simply stall, leaving Spookfish in a precarious funding position.

I'd like to see Spookfish sign another deal or two to mitigate these risks but the problem here is that they've given up exclusive rights to North America so it'd have to be in another market.

Am looking for a time to enter but will sit on the sidelines for now.