Great article, thankyou for sharing
@Colnagonz. Whats this got to do with Vection… well nothing, directly. However, indirectly it recognises the significant opportunity of VR/AR in amongst others, the healthcare (H/C) training space Vection identified & has been operating in for 2.5 years now when it established its Healthcare & Pharma Vertical in 2021.
That being said, per the companys own numbers from their reports, much like the Automotive Vertical, income stream from both these sources has so far proven unjustified & appears only a significant drain on expenses. The following is a spreadsheet I put together based on combined TCV revenue sources taken from the last 12 months reports. What it appears show is nil income from H/C & Auto in that time & a decrease in income from ‘Defense, Military & Law’ & also ‘Public Sector & Education’, but a significant growth in ‘Service Agencies’. Could it possibly be Vection is finally getting take up of the recurring revenue model & rather than decreased income from the above previous sources, actually transitioned them to now including them in the service category ? Eitherway, client base & revenue in total is increasing YOY. More on H/C sector later.
View attachment 5595413If nothing more, it confirms that yes while there has been increased spend to get there, TCV has also increased & the sources of income are evolving. Vection has been criticized heavily for using debt from numerous loan facilities to buy time (assumedly rather than risk markets reaction to a CR), all the while progressing in the background on numerous developments & opportunities for growth. It makes sense to do this as a temporary measure since as per the recent financials
Vection is owed $15.2 Million which far exceeds that borrowing & still leaves them cash in bank for day to day till payment for work already invoiced is received. Depending on how you see things, it also shows either very slow payment or a huge last few months of invoiced work out the door…
Within the next 2 weeks, holders are expecting a decision on the Major Defence Pilot as to whether or not the initial trial was a success & leads on to further work. This is significant as
it will double annual revenue by $30 Million overnight in the lucrative defence game and result in VR1 becoming a supplier to
NATO via one of the top 10 defence contractors worldwide.
Expectation is that top 10 contractor is
Thales, who openly partners Vection in other projects such as the Lunar City ‘edu-entertainment platform’ which fyi was co-presented just last week by the Thales V.P. of Marketing & Sales
Vincenzo Giorgio,
Next One Film Group &
Altec SPA at the 80
th Venice Film Festival. Video demo easily found on Linkedin. Per @flatspin’s post this will be also available to Sky network viewers. This project is aimed to promote space travel/exploration & give an insight to what it would be like. In addition to the education / information intent, there is also gaming component in this partnership. Thanks to Vections involvement, this will allow communication in real-time in VR to the
International Space Station. See the following link which takes you to sky Italy’s website for a video showing what they have been working on. Unfortunately its in Italian, but visuals are pretty impressive.
Metaverso Lunar City, a platform to experience Space | Video Sky (ampproject.org)Regarding more educational activity, a bloke named
Nicola Pighi has been heavily promoting Vection recently. In the last couple of weeks he has been interviewed & is on the cover of Forbes England & Fortunes Time. Described as serial entrepreneur in the FinTech sector, one of the 10 most inspiring CEO’s to watch in 2023, he is president & founder of
Hdemy Group. Please take a moment to look him up & see his enthusiasm toward Vection. He has set up a campus in Italy called
NAD (Nuova Accademia del Design) specifically for training students in Interior, Garden, Fashion & Visual Design leading to worldwide accreditation upon completion. The use of these courses involves VR & AR & in articles in the magazines above, on his Linkedin page & on the NAD website is heavily promoting Vections involvement & for students having
“an immersive experience unique, revolutionary & interactive.” This collaboration is confirmed to use Vections 3D Frame & Mindesk s/w &
Cisco Webex. Hopefully the first of many universities to see value & bring scale.
Could it be the recent proposed acquisition of
MYR is related to the fashion design course at NAD?... who knows. That acquisition is an unusual one, due to go unconditional by the EOM. I feel there is more to it than meets they eye. For me its more about the contacts it brings rather than the clothing design business itself. In the fine print of the acqui, it is noted that
Adriano Goldschmied (aka the godfather of denim), a 50 year industry veteran come across as an advisor to Vections board.
Vection has recently confirmed the acquisition of
InVrsion as now unconditional. With it comes a seemingly reputable new addition, their CEO named
Matteo Esposito & his team who bring their experience in developing solutions in 3D / VR & e-commerce for retail, automotive & real estate industries. Their contacts & contracts with numerous internationally known clients such as Coca Cola, Ferrero, Nestle & Walgreens confirm their ability of transforming a 2d image into a 3d recreation with intent to better represent products & promote online sales. There website is well worth a look. It makes sense resources of Vection, BC, MYR & InVrsion be combined to assumedly cross-sell & save costs operating together rather than individually. This acquisition will bring immediate revenue adding to Vections sales figures.
As announced in June, Vection & its 3D Frame platform is involved with
SolidWorld Group SPA &
Marotta SRL on the
European Space Agency’s Hexa-Fly Project. The idea of this project is to design, engineer & simulate (following successful testing) what will in time be created as a physical scale real-life prototype of a civilian-use hypersonic aircraft. It is described that the virtual testing environment created will allow engineers immediate communication between design departments on all areas of design, propulsion, aerodynamic efficiency in real time as changes are made. In doing so production & testing time is reduced significantly (as much as 70% is mentioned).
Back to healthcare… its not well known but there has been progress on this sector. Per Linkedin, upcoming later on 23
rd of this month, Vection is holding an event in Bologna, Italy re the application of immersive tech in healthcare. The aim of this event is said “to explore the potential of immersive technologies applied to hospital processes in a holistic system, and how these significantly improve hospital management by focusing on patient care”. Amongst others, it involves
SIT (the Italian Society of Telemedicine) &
Dr Marialuisa Lugaresi who is described as a ‘Master in AI’.
Speaking of AI, Vection partnered with
expert.AI with intent of digitizing technical manuals to make them more accessible & easier to understand by using a combination of extended reality & AI to deliver an immersive experience. Incorporating avatars to give step by step instructions & assistance with queries in real-time. FYI this work is partially funded by govt grants.
Recent upgrade to Vections 3D Frame to incorporate
AI chatbot ChatGPT on Apple’s macOS & Windows.
The
Autodesk Navisworks 2024 live link. We knew about Revit, but Navisworks is new. Confirms crossplatform integration of our IntegratedXR platform & revenue opportunity from yet another industry leading Autodesk product.
Notable new clients/increased sales recently
- Shimizu – FYI claims $14B US rev, 10,800 employees. Provider of services to Construction, Architecture & Engineering industries.
Wurth – FYI 80,000 + employees worldwide, 19.95B Euro Revenue.
Based in Italy, the
Bi-Rex Big Data Innovation & Research Excellence Centre is a longtime partner & client & always promoting Vection in Linkedin.
Another partner of Vection is
Siemens who has committed to investing billions in Europe & US & aims to build industrial metaverse hub in Germany. They have been very vocal about & will no doubt they will use Digital Twins to simulate their new buildings prior to construction.
Result of the recently BC expansion to Italy seems to be productive with multiple images uploaded by the
Blank Canvas team there to their socials. Assumedly they will collaborate with the InVrsion team when they come on board. The work done recently in Australia by BC team for
BedShed &
Mondella looks great & feedback is that there is highly likely more to come from other Bunnings Clients. All of which is with intent of offering clients life-like 3D emotive content & visuals representative of their products to better engage buyers & save on costs of physical showrooms / display homes & get product to market quicker.
In conclusion, investors that have the foresight to look ahead to any of the technologies in their
IntegratedXR suite & contacts Vection has in their arsenal should be excited. The stuff I’ve listed above has mostly been missed or glossed over. There is more, but I’ve probably bored you all enough already. Far as I’m aware, no other company on the ASX offers so many opportunities for success. Yes, there are skeletons in the closet, but if you can look past that & look at the possibility that there are so many opportunities for justification of m/cap above $45M IMO. In addition, nearology provided from recent news in tech (related to VR1 or not) in general are all hinting at a revival of the metaverse & AI & VR/AR/XR transition brings realism to the possibility of a turnaround here finally for the patient holders that remain.
These guys have always been ahead of the game. They see opportunity before anyone else & continue put the pieces of the puzzle together in preparation for their next move. Their only downfall & it’s a pretty major one IMO, is them not explaining those moves to the rest of us better to eliminate the need to guess & make assumptions. That being said, it’s the myriad of possibilities that keep me here & holding more than ever. Apologies for the long post, but I hope that’s of help to some with interest here. In addition to info above, the following is a weekly chart showing decision time coming to a head very soon right in line with expected news flow. All the best holders & watchers.
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