ICE - iCetana Limited

[System]

iCetana was formed in 2009 to commercialise technology developed by researchers in the School of Electrical Engineering, Computing and Mathematical Sciences at Curtin University. The research and technology allows for the efficient analysis of very large data sets to identify anomalous activity and events outside normal patterns.

iCetana has successfully commercialised the technology by developing Artificial Intelligence (AI) assisted video surveillance software using machine learning techniques to provide automated real time anomalous event detection (iCetana Solution) for use cases including security, loss prevention, theft and health and safety. The iCetana Solution integrates with existing video surveillance systems or can be deployed to directly interface with surveillance camera feeds. The software 'learns' activity patterns (not object or facial recognition) for fixed-field-of-view cameras and creates a model of 'normal' movement patterns and activity. After the learning phase, the software then reports anomalous or unusual movement patterns and activity in real-time, through a user interface that highlights those anomalous events and activity. Security operators, typically based in operations centres, can review the unusual events or activity and determine appropriate responses.

The Company has commercialised the iCetana Solution and as at the Prospectus Date has over 20 Active Customers with operations in over 35 locations supporting in excess of 10,000 video surveillance cameras globally.

It is anticipated that ICE will list on the ASX during December 2019.

https://icetana.com/

 

[frugal.rock]

Wow, I can envision that this one will be a disruptor.
I had a similar idea but it was based on facial recognition and databases which in this age, is still seen as a privacy issue.
The retail sector will love this tech, "shrinkage" is a growing concern that police can't keep up with. Crime statistics prove it.
Rock on.
F.Rock

 

[frugal.rock]

Not sure when this one is starting now.
Prospectus had yesterday's date, maybe tomorrow or Monday?
Note, prospectus was $0.20
Will be interesting to watch it kick off.
FRock

 

[Dona Ferentes]

Not sure when this one is starting now.
Note, prospectus was $0.20
Will be interesting to watch it kick off.

listed late Dec; still sub 20c as some seed money took chance to monetise?

 

[frugal.rock]

listed late Dec; still sub 20c as some seed money took chance to monetise?

You posted 20 minutes too early!
Up to 0.205, retraced, closed on high 0.205 again. Up 7.9% on a day when the market was ducking for cover in gold... again.
F.Rock

 

[Dona Ferentes]

You posted 20 minutes too early!

crystal ball now at Vinnies !! Maybe it will work for someone.
(a better theory than someone taking my post as a BUY signal)

An interesting concept, though. I wonder how many shoplifters will change their behaviour?

 

[Dona Ferentes]

. Up 7.9% on a day when the market was ducking for cover F.Rock

and close near high for day; 24c

 

[frugal.rock]

and close near high for day; 24c

You just reminded me, I bought in today at 0.235...speccie amount.
F.Rock

 

[frugal.rock]

Out today after nice jump.
Closed 0.265 but touched 0.29 today. Sounds really bad to say made 11% profit from an ICE trade...
Buying up started today, not sure what the excitement is about yet?
Also, I don't think the buying is over yet?
F.Rock

 

[verce]

iCetana

Cap ~$38m
SOI 137m
Cash ~$5m

Globally patented software which utilises artificial intelligence and machine learning to turn traditional security infrastructure into real-time detection systems that pick up anomalous and undesirable events.

 

[verce]

*High proportion of ownership by management. Top 20 own ~80% of the stock, Top 3 own ~60% - well aligned with shareholders

*Global, scalable and proven technology with years of R&D - patents included!

*Transitioning to a recurring revenue 'SaaS' scheme, no hardware costs. Complements existing infrastructure.

*Tier 1 blue chip partners already - 38 customers sites across North America, Australia, the Middle East, London and Japan.

 

[verce]

Without iCetana your operator can only monitor a maximum of approximately 16 camera feeds at any given time.

With iCetana your operator now has the ability to monitor approximately 600 cameras. That’s a 3750% rise in monitoring capability, improving operator engagement and efficiency.

This means that a pair of operators with two workstations have been able to do the job previously requiring a room full of personnel and computers, thereby dramatically improving control room efficiency.

♦ Operator fatigue is a real issue - studies show that most operators miss a large proportion of interesting activity if they are watching a camera for more than 20 minutes. There is also a massive data overload - far more cameras exist out there in the world than we have people able to look at them. How do you solve this? You need something to filter out the noise.

♦ Traditional video analytics are not very scalable. You need something that is simple to integrate, and provides real-time alerts. ICE co-exists with existing solutions to improve productivity.

ICE's patented software is a spin-out from Curtin University and learns from existing footage of cameras and reports anomalous activity in real-time. e.g. people sprinting across the street, people partaking in graffiti, fires breaking out at 2:30am being detected or even people falling down stairs in an unfortunate accident. The potential applications are very diverse.

https://en.wikipedia.org/wiki/Svetha_Venkatesh

Venkatesh has developed new technologies in large-scale pattern recognition in big data.[4]

Her work has led to start-ups such as iCetana which finds anomalies through video analytics to detect potential security threats in large data sets;[4] the development of a health analytics program which enables doctors to predict suicide risk;[5] and PRaDA's development of the Toby Playpad app which provides therapy for children with autism.[6][7]

Her work on using surveillance data led to the development of a "virtual observer" which was used after the 2005 London bombings.[8]

 

[verce]

Found this old conference which may be of interest:

https://www.nvidia.com/en-sg/ai-innovation-day/

 

[Dona Ferentes]

*High proportion of ownership by management. Top 20 own ~80% of the stock, Top 3 own ~60% - well aligned with shareholders

There's only 'alignment' when they don't take the liquidity offered by the listing event as an opportunity to monetise their holdings.

 

[verce]

There's only 'alignment' when they don't take the liquidity offered by the listing event as an opportunity to monetise their holdings.

That's a good point. But 70% is under voluntary escrow above and beyond the normal ASX requirements.

 

[frugal.rock]

SP has been on ice for a while...
A hunch has it about to pop again.
Speculation, heresay and innuendo.
Why would a AI security monitoring company do well?
Unless it's crap software, it will get "found" soon enough.
Potentially huge future.

 

[Dona Ferentes]

SP has been on ice for a while...
A hunch has it about to pop again.
Speculation, heresay and innuendo.
Why would a AI security monitoring company do well?
Unless it's crap software, it will get "found" soon enough.
Potentially huge future.

Yeah, never really had any rebound after Covid selldown in late Feb to mid March.

With Covid masks becoming more and more common, and brutalist in their appearance, there may be a glimmer of hope and usefulness, as software 'learns' activity patterns (not object or facial recognition)

 

[Dona Ferentes]

SP has been on ice for a while...
A hunch has it about to pop again.
Speculation, heresay and innuendo.
Why would a AI security monitoring company do well?
Unless it's crap software, it will get "found" soon enough.
Potentially huge future.

good hunch (took the market a week or so to digest yr 15 July posit)

 

[Metal Teeth]

One of the first companies I got in with a bit before it found the bottom this year. The tinfoil hat club believe the virus is just a ruse so facial recognition software can learn to identify people with masks. Was hoping this theory would be the catalyst to the recent rise but it seems more likely that a decent quarterly report and some other notices I haven't read would do the trick.

 

[frugal.rock]

Small position taken today.
Winters over, time for an ice melt up. DYOR.