PLACEMENT TO RAISE A$5 MILLION 16 November 2016 Proceeds from the Placement will be used to accelerate the Company’s expansion plans, driven from the emergence of three new business opportunities: Syntonic’s deepening engagement with Verizon Wireless for the Syntonic platform services; demand for mobile Over-the-Top video services from U.S. mobile subscribers; and further planned expansion in Southeast Asia.
Ok, so the cap raise cash is being put to use for three projects according to the announcement:
1. Syntonic’s deepening engagement with Verizon Wireless for the Syntonic platform services
2. Demand for mobile Over-the-Top video services from U.S. mobile subscribers
3. Further planned expansion in Southeast Asia.
We are fairly clued on to what is happening in SEA (3) and we have been advised about the Freeway OTT capable release mid 2017 ish (2).
The big fish here is Verizon (1). The statement in the announcement clearly indicates they are negotiating ("engagement") with Verizon for Syntonic Platform Services (CSP).
This is the next big announcement IMO. I believe that we will see some form of licence agreement between Syntonic and Verizon for CSP in the near future.
All eyes should be on the Verizon deal.
Just my 2 cents.
SYT Price at posting:
3.5¢ Sentiment: Hold Disclosure: Held
