Good morning and Happy New Year to everyone,
Hope everyone was able to take some time out from their working lives i.e. not thinking about their jobs, finances, the markets, Xped etc. - and found some time to focus on the more important things in life such as family, friends, relaxation, good food and drink, those less fortunate than us, mother nature in all her glory and some cool hobbies / entertainment to excite the senses.
One of the things I like to do at the start of each calendar year is to review my investments and investment strategy as a whole. And although many asset classes in my portfolio are still a work in progress, I have for the most part concluded reviewing my current publicly listed shareholdings.
As part of that process I have done some further due diligence on Xped, focusing on both the FA (including our growing relationships with the likes of Intel, ST Micro, Telink, Complex/Lenze , JCT’s Channel Partners, Vital Xense and others - and what that could mean for 2017) and also the TA. Part of that whole exercise involved reviewing some of my notes from November’s AGM (refer to the post and link below on the AGM presentation thread dated 6th Dec if you are interested). It’s a long read but may be helpful as a refresher or snapshot on where Xped as a business was/is at. For those newbie Xped investors out there, there are a number of points contained within that post that may be helpful and of interest while conducting your own DD.
https://hotcopper.com.au/threads/ann-xped-agm-presentation.3081128/page-4#post-21151748
Since then (30th Nov AGM), we’ve had some further encouraging announcements which shows that the FA continues to improve each and every month, though this is not yet reflected in the SP due to the upcoming SPP and its capping effect, a couple of specific value accretive developments that have yet to be formalised or completed (that are now overdue) and also a long bottoming process in the TA – but more on the TA later as first we must try to understand the fundamentals which will ultimately dictate any favourable technical outcomes.
When analysing the fundamentals, it’s important to recognise that 2016 for Xped was all about setting a path and establishing a foundation. Unfortunately there were a couple of undelivered promises and a few unexpected twists and turns along the way, but I’d opine that for the most part, Xped continued to develop and improve its team, technologies and IPs, partners and strategy-to-market. And as a result the company has built a stronger foundation and is IMO better equipped to meet the needs of its potential customers and deal with other challenges in order for it to gain some serious traction in the IoT space during 2017 and beyond.
So now (as we enter 2017) it’s all about the growth of the business i.e. turning technology into actual product, and that’s why Marty was hired back in September - to help fast track that transition.
The time for restructuring, reviewing the strategy, CRs in the form of SPPs and CNs, window dressing, ‘time-to-market’ delays etc. has passed, and 2017 is all about delivering the meat in the sandwich so to speak. And due to the need to show adequate financial security to our partners and their customers, Xped will soon be in a financial position that should take us well beyond 2018 (note that this assumes the a successful completion of the SPP and any shortfall, future proceeds from the conversion of options, the expected sale of Sokoria by the end of this financial year, and the completion of the Convertible Note tranches as they are issued. So there is literally no excuse now for Marty and the team not to deliver on their commitment in 2017 and as promised at the AGM.
And thanks to shareholder intervention prior to the AGM, as well as the willingness of our founding members to forgo their performance shares for the greater good the company, the necessity to raise a large amount of additional capital without delay (though not great timing but executed at Marty’s request - and therefore I see Marty as being the person we have entrusted our hard-earned with) is at least somewhat more reasonable and tolerable than what was initially proposed as set out in the top half of the table below.
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As per the lower half of the above table, the revised plan significantly reduces dilution (versus the initial plan) whilst still providing the company with the necessary capital /security it requires to;
a) sign formal licensing agreements with major silicon vendors, ODMS, OEMs and retailers and
b) fast track development to capitalise on the enormous opportunities that lay ahead over the next couple of years. On that basis, 2017 and 2018 should provide lots of value accretive news for Xped shareholders.
FA Snapshot and ASX junior peer comparison
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Have added three new rows in the above table to include the Market Cap (MC) in USD, Enterprise Value (EV) in USD and estimated outflows for the December quarter.
The inclusion of the MC and EV in USD highlights the current value of XPE (and its listed peers) to US investors and prospective bidders i.e. in the event of a takeover. Xped will be in a strong cash position following the SPP/shortfall offer as well as the full issuance of the CN. The above snapshot shows that the estimated dilution will have a relatively minimal effect on Xped’s EV following the SPP and CN, and assumes that a) the SPP/shortfall is fully subscribed and b) 100% of the CN and the interest component is converted into shares.
FA Update
I’ve updated the below wheel and spoke diagram to include the latest fundamental developments.
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1. MOU with Arcadyan Technology Corp.
Obviously yesterday’s agreement with Arcadyan should still be fresh in the minds of all LT holders so there’s no need to recap. However @mazewolf made a terrific point yesterday that should be re-emphasised. That is Arcadyan are being incentivised (via revenue sharing) to link their customers into the Xped suite of technologies, thereby promoting uptake and effectively creating a new sales division for XPE.
This announcement is also particularly encouraging as it is not only Marty’s first signed MOU with Xped after little more than three months in the job, but it is also Xped’s first agreement with a global ODM/OEM that provides direct access to sales (as @Inductor so rightly pointed out in an earlier post). Therefore yesterday should be considered as a momentous day in the company’s history. Well done to management and
congratulations to John and Chris in particular. The ADRC seed (idea) that they created eight years ago is finally bearing fruit after years of dedication and development.
Xped has also received some great press in recent hours, most of which was published after market close. TBH I haven’t seen this much press for Xped in a long while – so check out the link to @TBoner post below as he/she has kindly collated most of the links in one post.
https://hotcopper.com.au/threads/ann-agreement-signed-with-arcadyan.3160646/page-3#post-21863720
I’d opine that there’s a fair chance that because The Herald Sun and The Australian both published the announcement online, it might also be seen in a couple of the daily papers this morning. Therefore this much welcomes media attention may attract some new investors and some fresh buying to round out the end of the week, keeping in mind that all newcomers are not eligible to participate in the forthcoming SPP so their only option is to buy on market.
Lastly, here’s a brief summary of Arcadyan’s parent company, Compal Electronics, who handle the production of notebook computers, monitors and televisions for a variety of clients around the world, including Acer, Lenovo, Dell, Toshiba, Hewlett-Packard and Fujitsu.
https://en.wikipedia.org/wiki/Compal_Electronics
Looking at their structure, it’s certainly not hard to envision future introductions with Arcadyan’s parent company and their OEMs, assuming all goes to plan in the coming weeks. But either way yesterday’s development on its own is another great stepping stone. And whilst I had never heard of Arcadyan before, yesterday I learned that their annual revenue is actually greater than D-Link’s, whom I’m sure you have all heard of. Arcadyan’s net income of NT$1.34b was also the highest amongst its peers as you’ll see in the link below (courtesy of @prospects ). All in all a good choice of partner there Marty.
https://markets.ft.com/data/equities/tearsheet/profile?s=3596:TAI
2. On the 12th December Xped advised that it has begun building samples of the first production ready ADRC™ and DiscoverBus™ enabled products for delivery to Vital Xense for demonstration and testing. This represents the first products released that utilise the production version of these technologies.
Key points to this announcement:
* DiscoverBus solution allows for the rapid and simplified addition and discovery of devices over a wired network.
* Sensors are automatically added to the network when plugged in and then communicate to an ADRC enabled hub over the wired network.
* The network does not need to be powered down to add or remove sensor nodes, eliminating the need to shut down networks when changes or maintenance is required.
* DiscoverBus uses Xped’s RML technology to enable these wired nodes to be managed via the Device Browser app.
* Once on‐boarded using either a tap for wireless ADRC devices, or simply plugging in for DiscoverBus
wired ADRC devices, data from the sensors can be remotely monitored using cloud services that are currently running on the Microsoft Azure platform.
* ADRC and DiscoverBus products have been developed using the latest generation ST Micro microprocessors, allowing for ultra‐low power battery based sensor systems that will run for several years without the need for battery replacement.
3. On the 15th December Xped announced that it had completed developing a custom software plugin for the Complex Semiconductor iCharger device.
Key points:
* Xped app plugin enables playback of music and changing of the FM radio broadcast frequency. The iCharger Bluetooth device enables music stored on a smartphone to be played back on a standard FM radio.
* iCharger is a high volume consumer electronic product sold in the mainland China market.
* First delivery to Xped’s Chinese joint venture partner – delivery to retail commencing in 2017.
* Xped expects the user acceptance tests for the app to be completed in the next few weeks (i.e. now).
4. On the 16th December Xped announced that it had successfully ported ADRC to the STM32 Ultra Low Power microcontroller series.
Key points:
* Xped ported its ADRC firmware onto STM32 Microcontrollers using the STM32Cube development ecosystem. Given the robustness and feature set capabilities of the STM32 series, Xped said it would look to utilise these chipsets in a number of industrial applications for customers and partners.
* XIP (Xped’s Infrastructure Platform) is made up of company patented technologies for device discovery and provisioning “TAP”, the Xped App and RML Language for simple and easy to develop user interfaces and user experiences, and utilises
* Xped’s cloud services components. By porting to the STM32 microcontrollers it provides customers time‐to‐market IoT solutions targeting both enterprise and consumer applications.
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Refer to the product overview presentation below.
https://st-epres.s3.amazonaws.com/epres_stm32family/index.html
5. On the 16th December the company also released a Customer presentation with a heavy focus on the XIP Gateway platform and use case solutions. This presentation is also worth revisiting as there were a few new slides not contained nor explained in the AGM presentation.
6. On the 20th December the company announced that JCT would be expanding their offering into the Aged Care Industry.
Key points:
* JCT Healthcare has signed 5 new channel partner and reseller agreements to do this.
* Total Channel Partners minimum sales targets per annum in excess of $1m ($180-250k minimum each)
* A further 8 channel partner agreements are currently in advanced negotiation, potentially representing additional sales targets per annum of approx. $1.4 - $2m.
* JCT Healthcare now has national sales presence for their existing Healthcare products and services
* JCT Xped solutions being co-developed to sell through these channel partners
* JCT targeting international expansion through channel partners in early 2018 (incorporating ADRC technology once integrated into the list of JCT product offerings)
7. On the 22nd December Xped announced that it had successfully ported ADRC on Intel’s Smart Home Gateway. The importance of this development and our growing relationship with both Intel and the OCF should not be understated IMHO.
**CES / OCF / Intel / Xped / Iot Platforms and the Gartner Hype Cycle**
CES by the numbers
I haven’t yet seen the official numbers for CES 2017, however if it is anything like CES 2016 then it should have been another record-breaking year. A total attendance of 177,393 gathered from across the globe in 2016 to experience technology innovation spanning 2.47 million net square feet of exhibit space. CES is considered to be the world's gathering place for all who thrive on the business of consumer technology. No other event gives a company this depth of exposure and reach, because there's no other event experience like CES. The numbers below represent an overview of the audited attendance numbers.
Source: http://www.ces.tech/CES/media/pdfs/2016-audit-summary.pdf
It was six years ago (almost to the day) when I was lucky enough to represent a national retailer at the E3 Electronic Expo in LA, and I can confirm that this event (which for me included official launch presentations, demos and private meetings with the likes of Nintendo, Microsoft and Sony etc.) had a huge impact on our decision making for that calendar year.
Likewise it had the same effect for developers and manufacturers around the globe. Although E3 is a massive event (boasting 70,000 attendees spread across 570,000 square feet) CES is approximately four times larger than E3 in terms of space and has 2.5 times the number of attendees.
We know that OCF had a sizable presence in the Smart Home Marketplace at this year’s CES. Yes the direct media exposure for Xped was very limited (although you may not have seen this nice little plug for Xped courtesy of entrepreneur.com https://www.entrepreneur.com/article/254521 ) however the B2B exposure for Xped under the OCF umbrella should not be underestimated, and IMO likely generated a number of new business leads and opportunities over the four days given that both Marty and Chris were in attendance (according to a trusted source).
OCF - a brief history lesson
Intel (with Samsung and Broadcom) was a founding member of the Open Interconnect Consortium (OIC), purveyor of the IoTivity open-source project for smart-home connectivity.
The group, founded in 2014, changed its name in 2016 to the Open Connectivity Foundation,
adding Microsoft, Qualcomm and Electrolux to the brotherhood – all major stakeholders in the competing group AllSeen, based on Qualcomm’s AllJoyn connectivity technology. (note: for some reason Broadcom was dropped).
By October 2016, all parties decided to come together under the OCF umbrella, agreeing to make their respective platforms – IoTivity and AllJoyn – compatible with each other.
OCF today
Following its merger with Allseen, OCF now boasts a membership base of approximately 300 organisations (298 at last count). OCF’s champion sponsor for CES was Intel (no surprise there). And apart from the added benefits of being an OCF Platinum member, Xped was one of only eight Demo Sponsors (including Microsoft, Honeywell, the Worldwide Web Consortium and Genivi who btw are a not for profit automative industry alliance co-founded by Intel, BMW, GM and others) who promoted IoT interoperability solutions under the OCF banner at CES 2017.
Thus there is little doubt in my mind that Xped was selectively handpicked by the OCF to Demo its solution alongside industry giants like Microsoft and globally influential organisations like W3C, ETRI (Korean government funded Electronics research institute) and Genevi for good reason. IMO that reason (apart from Marty’s connections) is Intel recently verified and are satisfied that Xped has developed a seamless, comprehensive and practical solution to solve specific global IoT interoperability issues and wanted its customers and potential customers attending CES to take a look at our unique solution in action.
The importance of the ADRC solution for Intel IoT Gateway
And while we’re on the subject of Intel and it’s growing relationship with Xped, I would like to address the false notion that because Xped is only one of 420 Intel Solution Alliance members (and is only a general member at this stage) and ADRC is only 1 of 6358 solutions in Intel's directory, then Xped is somehow not important to Intel.
Firstly, that notion implies that the likes of Asus, IBM and other giants in the computing world are also not important to Intel, as they too are only general members of the Solutions Alliance.
Secondly, the 6358 solutions range across ALL market segments that Intel deals in. So for example, if one selects IoT Gateway solutions in the Solutions Directory, then the number of total solutions is reduced to 96. Then if you filter down to software components, the number is further reduced to 9, and of those 9 solutions not 1 of the other 8 solutions is either similar or can offer the same advantages of Xped’s ADRC mini-PCI module solution. If one navigates Intel's directory in detail instead of taking the easy and somewhat misleading path of generalising, then he/she will quickly realise that Xped's solution is in fact unique to Intel’s vast ecosystem.
You may have already seen Intel’s recent video below. But to summarise Intel’s IoT strategy consists of three phases. The first phase is to connect an estimated 85 % of devices that are currently unconnected (legacy devices), and that’s where Xped’s ADRC solution for Intel IoT Gateway is an important third party solution i.e. to help seamlessly ‘connect the unconnected’.
http://www.intel.com/content/www/us...nnect-the-unconnected-video.html?sf50029650=1
ADRC now available on Intel’s Smart Home Development Acceleration Platform
As per the announcement dated 22nd Dec 2016,
‘The integration of ADRC components into Intel’s Smart Home Development Acceleration Platform results in a more complete Smart Gateway solution, taking advantage of Intel’s efforts with OCF’s Iotivity solution, rules engine, and security components.
“We have worked with Xped on a mutually beneficial business model by making ADRC available to our ecosystem of partners. By providing a key building block for customers to improve ease of adoption, we [at Intel] expect to solve a key usability issue,” said Matthew Michael, GM of Smart Homes at Intel IOTG.’
And from the 16th Nov announcement;
‘Following the successful porting of ADRC, the Company is now in discussions with clients of the chipset manufacturers, with the aim of reaching licensing agreements.
Xped has seen a high level of interest from all direct introductions made from the chipset manufacturers to date.
Commenting on these latest developments Martin Despain said: “Xped’s ADRC technology was introduced to me as revolutionary, and this is why I decided to join the Company to lead them on their global quest . The market opportunity for an end to end platform utilising Xped’s ADRC and RML language is unique, and offers significant value added opportunities for OEM companies and brands seeking to add a platform and software solution to hardware devices. Following expansion of engineering resources and focus on business development we are already in licensing negotiations, which we hope to formalise before the end of this calendar year.’
Clearly Intel are excited about their Smart Home Development Acceleration Platform, as per their twitter feed late last month and their Smart Tiny Home – see video below.
https://twitter.com/inteliot
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IMO the above Intel article certainly compliments our relationship with them and the need to
‘seamlessly interconnect devices, services and things so the home becomes perceptive, responsive and autonomous’, and I would add to that being able to function independently of cloud or web based operation.
ADRC’s role in above The Smart Tiny Home video presentation is a little less obvious or certain as it focuses on the integration of Amazon’s Alexa. Yet the video does mention that
“because of the Intel Hub she is able to do more complex tasks and control multiple smart home devices at once”. Therefore we can only speculate as to whether Xped had any involvement in this demonstration or not (i.e. via Intel’s hub). But if there was no involvement on this occasion, then what would the obvious benefits be to Intel and its customers by integrating ADRC in the future?
Which brings us to the similar question that was on every Xped followers lips during CES,
and that is; Which competitors can claim to have equal or superior IoT technologies to Xped’s suite of revolutionary technologies that when combined, provide the ultimate end user/consumer experience? i.e. an experience that effectively allows anyone to aggregate their devices in the home or building etc. and then not only allows them to control those devices from anywhere in the world, but whilst they’re at home or in the building be able to control those devices without the need to rely on service provider/s (i.e. the Internet and Cloud) 100% of the time.
To help answer that question, please refer to the below Competitor Analysis table, keeping in mind that this table does not and cannot attempt to analyse all of Xped’s competitors and their offerings on one page as there are many - but more on that later.
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As you can see, the above table shows that Xped has a distinct (and eight years in the making) advantage to those competitors listed in a number of key areas including self-describing devices (thanks to Xped's RML technology), seamless ‘one tap one app’ technology, fully customisable interface, and the independence of cloud based functionality when at home should the web be unavailable / offline at any time.
I have spent countless hours actively searching (without confirmation bias) for ADRC’s equal and so far I have not been able to find another solution that ticks all of the boxes as described in the above table. BUT make no mistake, ‘IoT platforms’ as the opportunity has quickly become the hottest topic in the IoT space and one of the hottest areas in the tech sector full stop, and thus the race for establishment and acceptance is on. As part of their ‘IoT 2016 in review’ article, IoT Analytics made specific mention on this development as per below.
‘When we launched our coverage of IoT Platforms in early 2015, little did we know that the topic would soon become the hottest IoT area. Our count of platform providers in May 2016 showed 360 platforms. Our internal research is now well over 400. IoT Platforms is also well placed in the Gartner Hype Cycle 2016 (illustrated later in this post).
Companies have realized that the value of IoT lies in the data and that those that manage this data will be the ones capturing a large chunk of this value. Hence, everyone is building an IoT platform.
The frightening part is not necessarily the number but rather the fact that the sales pitches of the platform providers all sound like this: “We are the only true end-2-end platform which is device-agnostic and completely secure”.
source:
https://iot-analytics.com/iot-2016-in-review-10-most-relevant-developments/
IoT analytics’ last point is particularly relevant as it emphasises the reality that many of these 400+ companies who claim to have complete IoT end to end solutions in fact do not. IMO this was highlighted most recently at CES 2017 where every Tom, Dick and Harry it seemed was incorrectly marketing their IoT solution as a complete IoT Platform. But as the article below explains, not every IoT Platform is an IoT Platform.
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When IoT Analytics compiled a list 360+ IoT Analytics companies, 200+ of those were startups (i.e. with very little in the way of resources and funding and not unlike the position Xped was in from 2008-2015). 85+ were small to medium sized enterprises and 50+ were multi-national corporations. Of the 360+ companies compiled, only 50 or so of those were publicly listed companies. Many were also segment focused, and thus their solutions did not come from a holistic point of view. As we saw with CES 2017, most of the IoT Platform presentations / demos/ media articles were extremely home-centric, and very few focused on the many other important segments that will ultimately determine which Iot Platforms and open sourced standards gain superiority.
The same goes for protocols. There will be winners and losers, but the beauty of Xped’s XIP (including creating the gateway software and the RML language associated with that) is that doesn’t matter who wins or loses the protocol wars. Unlike many competing IoT platforms, Xped is going to be able to represent any IoT device on our app using the IoT gateway.
IMO Xped is therefore in a relatively good position from both a holistic, technological and corporate perspective (i.e. revolutionary tech that is easily adaptable to other segments/verticals, company is well capitalised with a great team of experienced people), to capture a tiny but company making share of an estimated $11 trillion business opportunity as summarised below.
IoT: An $11 trillion business opportunity
Reference 1:
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Reference 2: source: White-paper-IoT-platforms-The-central-backbone-for-the-Internet-of-Things-Nov-2015 – downloadable from the IoT Analytics website
Key points:
* IoT is bringing convenience, efficiency and safety to a totally new level – changing industries and society itself.
* Some industry experts go as far as saying that IoT will be the most influential and most disruptive technology in the history of mankind. McKinsey estimates at the top end that IoT will be an aggregated $11 trillion business opportunity over the next ten to fifteen years – equaling about 11% of the world economy.
* Business leaders, innovators, and investment firms are taking note. In 2014 and 2015, Gartner proclaimed IoT on top of its infamous hype cycle.
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There are several reasons why the IoT opportunity is occurring now:
- Affordable hardware. Costs for actuators & sensors have been cut into half over the last ten years.
- Smaller, but more powerful hardware. Form factors of hardware (sensors, communication technology, etc.) have shrunk to millimeter or even nanometer levels. Now you can get a low-energy, state-of-the art sensor with ubiquitous connectivity the size of your fingertip.
- Ubiquitous & cheap mobility. Cost for mobile devices, bandwidth and data processing have declined as much as 97% over the last ten years.
- Availability of supporting tools. Big data tools & cloud-based infrastructure have become widely available and fairly sophisticated.
- Mass market awareness. IoT has surpassed a critical tipping point. The vision of a connected world has reached such a followership that companies have initiated IoT development & marketing budgets. The commitment is irreversible.
Changing business paradigms: IoT data is the new gold
Gathering and connecting data points from physical objects is the key to letting new IoT business cases come to life. This trend will be seen in many industries: selling the main product becomes a by-product, while the business model around the data becomes the main product. On top of that, we will see the creation of entirely new industries that build business models solely on IoT data and use hardware partners to get access to the necessary data sources (eg. the insurance industry of the future).
IDC estimates that the amount of data in the world will more than quadruple in the next five years to reach 44 zettabytes in 2020.
Check out Intel’s latest Evolution of IOT video (Phase 2) entitled Smart and Connected Things, which illustrates the importance of Edge Analytics - where Smart Devices can decipher data and zero in on what’s important before sending that data to the cloud.
http://www.intel.com/content/www/us...mart-connected-things-video.html?sf50031352=1
Quick TA update
On the 21st November I posted the following Daily chart:
Since then the charts have continued to form a nice base (what I'd call a rounding bottom thus far) and interestingly the above ABC corrective pattern and Primary Wave Count illustrated remain valid, as shown in the updated weekly Japanese average candlestick chart below.
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Finally, a look at the normal weekly candlestick chart which highlights the breakout of the wedge pattern on a closing and intraweek basis - in sync with the convergence of the MACD (poised to crossover in the next week or two) and the early signs of a reversal of Stochastics (fast and slow) from record low / oversold levels. This along with the recently improved FA could be the precursor to larger volumes and higher prices in the days if not weeks ahead, however IMO any increase and confirmed trend reversal in the SP will be highly dependent on the following fundamental value adding outcomes that are due this quarter:
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Anticipated news flow in the near term
1. Announcement / formalisation of initial licensing negotiations by the end of the 2016. Note: On the 18th Nov the company announced that they ‘hope to formalise licensing negotiations by the end of the (2016) calendar year. Current status: A new MOU with Arcadyan is great but still think that the company was referring to binding agreements for either MOU1 and /or MOU2. Will seek to clarify with management and advise.
2. Announcement re: the successful completion of porting ADRC to Telink’s TSLR8269 SOC. Note: On the 18th Nov the company announced that they were ‘close to finishing a port to the 8269 SOC which is expected to be completed by the end of 2016’. Current status: Overdue
3. Announcement re: the successful incorporation of Telink’s BLE mesh capabilities within ADRC with this work expected to be completed in the Q1 2017 timeframe. Current status: Due this quarter (as per the 18th Nov announcement).
4. Announcement of forecasted no. units of the Telink’s TSLR 8269 SOC for 2017 calendar year along with the estimated fabless price achieved (which we can then multiply by 17.95% to determine Xped’s share of the forecasted revenue per unit sold) or Xped’s share of forecasted revenue projected for TSLR 8269 sales in 2017 (i.e. without Telink and Xped requiring to directly disclose the estimated fabless price per chipset sold). Current status: unknown but needs to be announced this quarter and preferably in conjunction with the aforementioned porting announcement that is overdue.
5. Update on the status of specific IoT solutions that were showcased at the Microsoft partner event in Oct 2016, namely Xerts, Product Registration System and Big Data back end data gathering system running on the Azure platform. This update should include any advancement on ‘Discussions now continue with Microsoft for next steps for commercialisation’ as quoted in the 28th Oct Quarterly report. Current status: unknown but shareholders are due for an update this quarter.
6. Announcement re: the completion of Phase 2: XIP – Device Aggregation and Control. Current status: due this quarter (as per Marty’s comments at the AGM).
7. Other less price sensitive developments requiring an update by the end of this quarter:
* Completion of ‘The Remainder of the ADRC Technical Reference Guides that are being developed for release shortly’ as announced in the 28th Oct quarterly report.
* Update on the user acceptance tests for Complex Semiconductor’s iCharger app (Xped software plugin) which as at 15th December were ‘to be completed in the next few weeks’ e. due this month.
* Update on proposed sale of the Sokoria Geothermal Project i.e. once the expected drilling (by Orka) is complete this quarter. As per the 28th Oct quarterly update, Xped will be entitled to
‘a payment up to USD$947,368 via payment commitment agreement between the parties upon its [Orka’s] intent to develop’.
In summary, there are plenty of updates to look forward to this quarter IMO. Collectively this should amount to a strong couple of months of news flow which in turn should have a positive impact on the charts in the days, weeks and months to come. But please DYOR as all of the above is JMO and should not be relied upon nor considered as advice of any kind.
GLTA for 2017 and beyond.
Cheers
Elpha
(20min delay)