Weekend STT Lounge 25-27 Jult, page-9

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pilsner

3,654 Posts.

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25/07/14

19:59

Post #: 13717263
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Originally posted by Umizoomi ↑

Entry for STT List

NXR, FA

Biometric Security Technology, Global Technology Sector

All you need to do to use the technology is look at an image on your mobile phone screen or ATM screen. A camera takes a photo of the image reflected in your eye. You are allowed to proceed, to make a call, or withdraw cash.

Wavefront Biometric Technologies (WBT) has "back-doored" through iron ore explorer Nemex Resources, who currently own 20% of WBT. NXR may purchase up to 51% of WBT through three more development tranches. The next 10% tranche is conditional on implementing the technology in a mobile device. This has been done, although not formally reviewed by NXR directors. This tranche is $625,000 for an additional 10% of WBT. Directors have until mid-August to formally proceed.

The technology appears to be significantly de-risked. Of course things can still go wrong.

The final two tranches to get from 30% to 51%, require $2.75m to be paid to WBT. I assume 55m shares are issued at 5c per share, giving 212 million shares in total.

A low-ball value for the technology based on previous transactions for biometric security products is $50m. NXR's 51% share is worth 12c per share on this basis.

Current share price is 2.4c. It's my highest conviction call for a long time. Management and development personnel come from CSIRO, major Australian banks, surgical optometry designers, optometry university departments.

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Forget FA Umi, LOL....LOL....TA wise that is a beaut entry for the list, thanks from me in advance of you appearance in the top lines of the winners list.
2 Upvote

0 Great analysis

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