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SP3, SPECTUR LIMITED
doc-gt
post Posted: Sep 1 2020, 05:48 PM
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In Reply To: nipper's post @ Aug 30 2020, 06:26 PM

Thanks Nipper.

I did have a hearty chuckle at the "Fort Knox" set-up at Vodafone's Moropa tower. No wonder two recent theft attempts at the site were unsuccessful. However, I can't help thinking that there must be much more cost effective ways of protecting such towers and associated energy generation and storage assets, and perhaps Spectur's HD5 cameras might fit the bill.

By the way, I have been checking out images of many 4G tower assets of the 3 carriers over the last couple of days and only Optus 4G towers uniformly have the exact fencing and road base set up for their 4G towers that are seen in Spectur's discreet Facebook image of 10 August 2020.

You never know when such tedious hack research work might lead to an investment edge, but that said, I also came across a wild card in the form of a news report from April this year suggesting that Singtel has charged Bank of America to find potential buyers for Optus' entire Australian telecommunication tower network, which just leaves me scratching my head with bemusement.

 
nipper
post Posted: Aug 30 2020, 06:26 PM
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In Reply To: doc-gt's post @ Aug 30 2020, 04:19 PM

interested to read your comments. The 5G implementation will create a large footprint, for sure; much more than 4G due to the shorter range of the frequency. Coming at it from another angle, have a look at Redflow RFX Investor presentation dated 11 June on p16. Is that a fortified telco tower (powered by remote battery, rather than grid), or what?

What with the theft challenge plus the flat earthers, there should be a whole lot of protection going on smile.gif



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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doc-gt
post Posted: Aug 30 2020, 04:19 PM
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Spectur (SP3) remains an enigma to me. Over the past year it has continued to drift down from 10 cents per share to a bottom of just under 5 cents per share, only a couple of months ago.

At 5 cents per share, the company's market capitalisation was more or less on a par with annual revenue, which prima facie can often be suggestive of bargain basement territory. Yet the sellers kept bobbing their heads up. This syndrome developed a shred or two of logic when it was recently revealed that the former Chairman and particularly the former CEO were for whatever reasons progressively offloading millions of shares they had obtained gratis through a very "soft" revenue based performance scheme that was designed by them at the time the company was listed, and in the process contributed to the stock's feeble share price performance over the last 18 months.

The former CEO has now been all but bought out of SP3, and the former Chairman has a much reduced holding. In any case the share price has finally seemed to stabilise at around 6 cents per share following a heavily oversubscribed and scaled back capital raising in July/August of this year, at 5 cents per share. This event was prefaced by a somewhat contrived (but still significant) cash flow positive result for the final quarter of 2019/20, in which the cost side was pared back on a number of fronts including wages and directors' fees. Government stimulus measures also contributed to the result. The capital raising was significant for a number of reasons - not least for the fact that all current directors subscribed for the maximum allocation of shares in the capital raising (always a good sign for a company's likely future performance).

As for the operation of the business, the core growth element seems to have been provision of solar powered cameras with battery back-up and cloud based image, video and other data storage for site surveillance and asset protection in the building and construction industry, and more recently, provision of on-site audio and visual alerts at quite a number of mainly Western Australian beaches, for sharks that have been caught, tagged and released in drum line operations, and which subsequently register as being in the vicinity of one of the beaches that are subject to Spectur alerts.

While the services provided to the building and construction industry are growing fairly nicely, the Covid 19 constraints are unlikely to be helping. Furthermore, larger building and construction clients who purchase the HD5 cameras tend not unexpectedly to move their cameras from job to job, as one job finishes and another one starts. This largely limits the potential growth in HD5 camera sales in the building and construction industry to new clients.

So, what might be the major growth catalysts for SP3, now that financial issues have stabilised with the staunching of the cash burn and with the cash inflow from the recent placement and oversubscribed SPP? Well, clearly the very recent release of the STA6 camera with its range of artificial intelligence functions substantially broadens the scope of SP3's offering beyond simple surveillance and asset protection. However, there also remain a number of market segments for HD5 cameras that seem to be thus far untapped in Australia and these mainly relate to utilities infrastructure, such as dams, electricity substations, wind turbines, solar farms and telecommunication towers. Of these potential market segment examples, dams and electricity substations seem unlikely to require solar based camera surveillance and protection because of the connectivity of such facilities to the electricity grid. That factor may also apply to wind turbines and solar farms. But what about telecommunication towers?

There are close to 10,000 telecommunication towers in rural Australia, many of which are in locations not conveniently adjacent to the electricity grid. Most of these are towers that service the 3G and 4G networks, but increasingly such towers are being augmented to accommodate the developing 5G network. In addition, the 5G network will require many new, albeit much smaller repeater towers to provide effective coverage.

The development of the 5G network is plagued with controversy, which has attracted quite militant protest action, and to the extent that 3G and 4G towers are being used to host 5G equipment in rural areas that are not conveniently located near the electricity grid, those towers seem like fertile territory for expansion of SP3's HD5 camera sales on a potentially substantial scale.

In fact, as a keen follower of Spectur's (SP3's) Facebook page, I was most intrigued to see the Facebook entry of 10 August 2020, which shows part of a barbed wire enclosure with a Spectur HD5 camera fitted with dual solar panels. The accompanying text states that:

"Even in heavily treed areas we are able to increase the size of the array to ensure constant power generation throughout winter. Country Victoria is prime Spectur solution land"
(https://www.facebook.com/specturltd/photos/pcb.3108742045861516/3108741382528249/?type=3&theater ).

Although the photo doesn't show the asset that is being protected, the design of the fence (2 metre high galvanised steel mesh, topped with three horizontal lines of galvanised barbed wire), plus the ground cover in the enclosure of loose road base, is identical to the enclosure configuration I have seen at a number of 4G tower locations in Victoria, all of which makes me wonder whether Spectur is at the starting point of developing a major new market segment in the surveillance and asset protection market. I am suggesting a "starting point" because if this was an already developed market, the impact on Spectur's bottom line would already be "material" and therefore reportable to the ASX.

Perhaps Spectur is playing possum with competitors until the company has time to establish a solid bridgehead in the potential market for protecting telecommunication towers in rural Australia.


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doc-gt
post Posted: Sep 25 2019, 04:59 PM
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In Reply To: nipper's post @ Sep 25 2019, 01:43 PM

Hi nipper

The presentation released last Thursday to the ASX which underpinned a company webinar on the same day is well worth a look: https://www.asx.com.au/asxpdf/20190919/pdf/...nh8cr13fj8l.pdf

In a couple of days, the recording of the webinar should also be available on the Spectur web site. Among several interesting snippets in that webinar is a forecast by the company chairman, Darren Cooper, during question time, that Spectur should be cashflow positive by the end of FY 2020, and given that there were already a couple of CF+ months in FY 2019, I took this to mean CF+ by the end of FY20 for at least a full quarter.

 
nipper
post Posted: Sep 25 2019, 01:43 PM
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In Reply To: nipper's post @ May 22 2019, 09:43 AM

new MD. Shares not really going anywhere.
becoming more focused . A + NZ. Governments and Utilities, + Building & construction. IE High value for their "premium solution" product
good margins 50%+

but trading around lows of 10c (was 25c a year ago)



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
doc-gt
post Posted: Jul 15 2019, 06:26 PM
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In Reply To: nipper's post @ May 22 2019, 09:43 AM

A slightly better than forecast finish to 2018/19 for this still very unloved market minnow - https://www.asx.com.au/asxpdf/20190715/pdf/...mb2f7l6xqzp.pdf .

I may well be missing something quite important, but I'm totally mystified as to what might be holding back the speculative end of the market from getting set with this one. Perhaps, Westpac found something untoward when it recently decided to backtrack on a very small loan facility to help the company smooth out expected near term lumpiness in working capital requirements...but if they did, I've certainly been unable to spot it.

Anyway, as things currently stand, following today's solid 4th quarter results, I've been more than happy to increase my modest position and take a contrary view on whatever might be fuelling downside risk perceptions with SP3.

 

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nipper
post Posted: May 22 2019, 09:43 AM
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In Reply To: doc-gt's post @ May 22 2019, 08:58 AM

thanks for posting on this
QUOTE
Spectur Limited (SP3) currently operates in the Australian security surveillance industry, with a specific focus on solar-powered security camera systems.

Spectur provides security surveillance products and services which are primarily targeted for use on commercial and industrial sites that may or may not have access to electrical power and telecommunications networking activity.

Spectur's products and systems operate on an IOT 'Internet of Things' basis. This means that the security surveillance products are accessed, controlled and managed through Spectur's proprietary software systems

QUOTE
• Spectur provides security and surveillance systems linked to cloud-based technology solutions.
• Spectur designs, develops and manufactures systems that protect organisations and businesses in commercial, industrial and government sectors.
• Spectur’s core products include the HD5 wireless solar security camera system, a time-lapse camera, a thermal security camera and a shark warning system.

Spectur’s platform and infrastructure
• Give customers sight and more on site - anytime, anywhere
• Connect these tools to the internet, users and decision-making tools reliably, and in a user-friendly way
• Take actions either manually or through supporting decision rules or artificial intelligence

Spectur has deployed more than 1,600 of these systems to date
- mean bit of equipment on slide 4 !!



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
doc-gt
post Posted: May 22 2019, 08:58 AM
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SP3 is a much unloved minnow, which is finally showing some signs of life after more than a year of heading south. In the last few weeks the SP has doubled on the back of promising news (see: https://www.asx.com.au/asxpdf/20190508/pdf/...xw0xlxrf1t7.pdf and https://www.asx.com.au/asxpdf/20190507/pdf/...dqc9581ky7.pdf). Yet it remains a touch below its IPO price.

With a market cap of still less than $10 million,SP3 might now be considered by some to represent a bit of value. Sales are beginning to break out and CF+ is within sight on the horizon. The recruitment of a new Managing Director from WOR (commencing 1/7/19) should also broaden the scope of contacts with the potential customer base.


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