I bought first shares in the company when it was called Whinnen Resources, thence Whitestar, so I guess I'd say to you that you are a new shareholder, lol! And of course my buy in price for those initial shares is much greater than the current price of SFI.
But I do have a few thoughts that relate to what you say and also Matrix who has made a very incisive remark re "Licencing Agreement" vs "Commercial Contract/Agreement".
I am a cynical investor, and thus as soon as I saw that the Exec Chairman had renounced his performance shares for another package, and noted the Resolution in the forthcoming AGM I immediately decided that we certainly wouldn't be hearing about any material (certainly not positive) news prior to either the day of the AGM, in order that he doesn't run the risk of getting a huge load of options voted by shareholders at the AGM. Mind you I think that his tax effective re-structuring of the package is not an issue and since the quantity is no different to his former allotted package I don't have an issue with him now getting the greenlight for getting the restructured package. But of course I am cynical.
Most importantly if it does motivate him (at the rate of $125,000 per cent of share increase above 15 cents!) then I have no qualms with it, being a shareholder myself.
So since I assumed no material announcement would happen before the day of the AGM I was taken by surprise by the TH yesterday. And I congratulate the board, as it doesn't put at risk the share price hurtling way above 10 cents at which the Exec Chair would be harder-pressed to argue the exercise price of the first options, of 10 cents!
I have a mate who had tried to call the Exec Chair prior to and after the announcement of his share performance package for general updates, and each request was not replied to. Thus we viewed that its likely that any material arrangements are clearly a possibility, and also I did note the higher volumes each day over the past couple of weeks. I actually did add to my holding, thinking that this could be the start of the company making the transition from having "a great technology" to one which has commercially viable great technology - a very big difference indeed.
Oh, so my view is that I can't see the material announcement causing the TH being made in the next day, thus assume it will go into a temporary voluntary suspension. Of course that's my cynical view, and I might be wrong (as I am so often!).
So now with the licencing agreement terminology:
A. IF it were related to as Matrix suggests something like the US military or say Google Maps then this thing will fly to unknown heights, and I certainly would be thinking of considerable higher market cap than the current $45 million.
B. IF its related to a smaller company using something that might not be a real core part of the camera technology, eg storage or processing of large wads of data, then there will be a much smaller rise, but still positive.
C. IF its related to a smaller company but using the core part of the camera package then it could be a better result than option B. It would be a partial tick to commerciality I'd suspect.
D. IF its related to a company taking a commercial agreement out to take up the commercial offering then we are on a path to follow NEA valuation, on the basis that whilst its a competitive business and yes NEA has first holder advantage in this space, apparently SFI has a far better, lower cost technology and should be able to win competitor clients. Thus with NEA market cap at around $195 million and SFI at $45 million market cap (forgetting full dilution of share option packages etc), then SFI will move towards a market cap closer to $195 in coming months as steam picks up - that means closer to 30 cents thereabouts!
So good luck all, don't blame me if a material announcement ends the TH tomorrow afternoon, but I'm not holding my breath.
SFI Price at posting:
6.8¢ Sentiment: Buy Disclosure: Held
