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Linius Technologies starts converting strong pipeline of opportunities into sales

Recent agreements with SportsHero and Racing.com will both be revenue generating in FY2020 and represent the company’s first steps towards penetrating the sports sector.

Linius Technologies Ltd - Linius Technologies starts converting strong pipeline of opportunities into sales
Linius technology transforms large inflexible video files into small highly flexible data structures

Linius Technologies Ltd (ASX:LNU) has continued to invest in the development of its core technology during FY2019, lodging further patents as well as demonstrating its blockchain prototype.

The company’s Video Virtualization Engine transforms large inflexible video files into small highly flexible data structures.

Off the back of successful proof of concepts, Linius continued to convert its strong pipeline of opportunities focused on building strong recurring cash inflows.

Investor support

Linius is continuing to receive investment support from existing and new investors.

The company raised $3.5 million in April 2019 through a private placement at 3.5 cents per share, with directors and their nominees contributing $1 million of this amount.

Post year end, Linius raised a further $4.5 million at 3.3 cents per share, with directors to contribute $300,000 post approval at the upcoming AGM in November.

Outlook

Immediately subsequent to the end of financial year, Linius closed two deals which are reflective of the company’s outlook for the next several years.

SportsHero (ASX:SHO), which is deploying Linius’ hyper-personalisation application in their mobile app, is targeting the 80 million soccer fans across Indonesia; and

Racing.com represents another mainstream sports segment into which Linius’ hyper-personalisation application is being deployed.

These commercial agreements will both be revenue-generating in FY2020 and represent the company’s first steps towards penetrating the global soccer market, and then additional sports sectors — providing every sports fan with their own personalised TV channel over the next few years.

Quick facts: Linius Technologies Ltd

Price: 0.033 AUD

ASX:LNU
Market: ASX
Market Cap: $38.57 m
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