leadf
logo-loader
viewSenSen Networks Ltd
(
ASX:SNSOTCQB:SNNSF
)

SenSen Networks directors support AI software-based strategy with on-market purchases

Last month, SenSen won a $2.5 million contract with the City of Las Vegas for the furnishing, installation and support of a complete Licence Plate Recognition System for the city’s Parking Services Division.

SenSen Networks Ltd - SenSen Networks directors support AI software-based strategy with on-market purchases
The company also completed the deployment of road safety cameras in NSW

Sensen Networks Ltd (ASX:SNS) directors are continuing to support the smart cities and AI software solutions provider with more on-market share purchases.

Executive chairman & CEO Subhash Challa purchased 250,000 shares for $24,676 while executive director David Smith purchased 50,000 shares for $4,900.

Challa now owns about 79.7 million Sensen shares while Smith has increased his stake to ~11.19 million shares.

Las Vegas contract

Last month, SenSen won a $2.5 million contract with the City of Las Vegas for the furnishing, installation and support of a complete Licence Plate Recognition System for the city’s Parking Services Division.

SenSen’s proprietary AI and video analytics software won the competitive tender process, showcasing Gemineye, a smartphone-based AI solution, and SenFORCE, a fully automated and mobile by-law enforcement solution.

Road safety cameras in NSW

The company has completed the deployment of road safety cameras in NSW after receiving orders worth approximately $614,000 for the 2020 financial year from Transport for NSW (TfNSW).

These cameras are powered by SenSen’s AI software to measure and enforce vehicle average speeds between designated locations.

 

Quick facts: SenSen Networks Ltd

Follow
ASX:SNS

Price: 0.125 AUD

Market Cap: $69.68 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

SenSen Networks records highest cash receipts since listing on ASX

SenSen Networks Ltd (ASX:SNS, OTCQB:SNNSF)'s CEO Dr Subhash Challa tells Proactive the company ended the June quarter with A$1.6 million in cash receipts - the best result since its listed on the ASX. Looking ahead, SenSen has updated its revenue guidance for FY22. It expects to bring in more...

on 2/8/21

2 min read