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.
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.
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.