STTCOMP SFI, FA Long SOI: 835M (159M in escrow) MC: $66M @ 7.9c...

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    STTCOMP SFI, FA Long

    SOI: 835M (159M in escrow)
    MC: $66M @ 7.9c
    Cash: Approx. $8.5M

    Spookfish Limited is an Australian listed public company focused on the development and commercialisation of premium next generation geospatial imagery products and services. By starting from a clean sheet and disregarding what was thought impossible, Spookfish’s revolutionary technology enables rapid imaging of entire countries in high resolution from a multitude of angles at a fraction of the cost of contemporary systems. Spookfish aims to use these capabilities to make it easy for organisations of all sizes to gain access to premium imagery content and pervasive 3D models allowing concise, accurate and cost effective decision making.

    In May 2016, Spookfish announced that the Company had entered into binding formal license, royalty and equity investment agreements with EagleView Technologies. Under the terms of the agreements, EagleView will have the exclusive rights to operate the Spookfish Capture Platform in North America. EagleView is owned by Vista Equity Partners, a leading private equity firm focused on investments in software, data and technology enabled businesses. EagleView is a market leader in aerial imagery, utilising a vast image library and patented 3D measurement software to deliver solutions to over 40,000 customers in the insurance, construction, solar, government and public utility sectors. Spookfish technology will support EagleView as it seeks to capture higher resolution imagery on a more frequent basis over a greater area.

    EagleView and Spookfish are collaborating extensively on the development of new technologies that improve the capability and performance of Spookfish technology and accelerate Spookfish’s development and long term commercialisation roadmap. By working closely with EagleView, Spookfish has developed an aggressive growth strategy for North America.

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    During the 3rd quarter of 2016, Spookfish made significant progress in relation to developing and commercialising its proprietary aerial imaging capture technology in Australia and North America. Increased spending going forward mostly relates to the scaling up of production systems for North America, which is largely rebateable from EagleView. The Company has recently received a significant R&D rebate of $2.44M.

    Subsequent to the end of the quarter, Spookfish announced the filing of three additional Australian Provisional Patent applications, further strengthening the Company’s broad IP portfolio for high productivity, high resolution aerial surveying. The filing of these applications was a key milestone towards enabling commercialisation and reflects Spookfish’s end to end strategy for optimising the entire aerial surveying value chain.

    Stuart Nixon, ER Mapper and Nearmap Founder, participated in Spookfish’s initial $5 million capital raising and became a top 20 holder and influential cornerstone investor. Nearmap (ASX:NEA) is their nearest competitor which has a Market Cap of around $260M.


    From the 2016 half year accounts, commercialisation was anticipated to be late 2016 or early 2017.

    Moelis and Company rated Spookfish a BUY with a target price of 18cps. Report can be found here.

    This tip is not a buy recommendation. Please DYOR.
    Last edited by the_contrarian: 17/01/17
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