OpenDNA Limited’s Shares Surged more than 20% on ASX- A Quick Look

Artificial Intelligence and e-Commerce marketing company, OpenDNA Limited (ASX: OPN) is mainly involved in the sale, and deployment of its patent-pending artificial intelligence system.

During the half-year ended 31 December 2018, the company made significant progress in moving towards revenue generation, and expansion of the customer base for its Artificial Intelligence System, and Machine Learning platform through strategic acquisitions.

During the half- year period, the company finalized the acquisition of CHOOSE Digital Pty Ltd, and RooLife Limited. The acquisitions were done, in order to expand the company’s commercial services, and capability to work with businesses, to market its products online and grow brand awareness in Australia and in China. CHOOSE Digital is a fully-integrated digital marketing business. RooLife is an online e-Commerce marketplace which helps businesses to sell directly to its customers.

The company, recently entered, into a binding agreement with Health and Wellness company, Better Nature, to assist Better Nature’s market entry into China, to provide digital marketing, and drive sales through its RooLife online platform. This partnership, with Better Nature extends OpenDNA’s reach and range in the Health, and Wellbeing market in China, which is forecasted to reach around US$60 billion in sales by 2020.

Recently, the company, also entered into a binding agreement, with pharmaceutical aggregator and wholesaler of skincare, Vitamins, Minerals, Supplements (VMS) and Health & Wellbeing products, NNM Services Pty Ltd (NNM), to market, and distribute products from NNM suppliers, into China.

While commenting on this binding agreement, the company CEO Mr. Bryan Carr, informed that the company’s enhanced combination of online services, and its hyper-personalization engine has uniquely placed OpenDNA, to understand consumer buying behavior, and would provide a personalized shopping experience to deliver products that the consumers like and want.

Currently, the company’s objective is to expand its sales, with a focus on assisting Australian businesses, to sell its products online, and build brand awareness in Australia and China.

During the quarter ended 31 December 2018, the company completed the of $2.1 million Placement, to fund the acquisitions, and to provide for the working capital requirements for business integration, and growth. As of 31 December 2018, the Company had cash of $1.82 million which are expected to be used for the Company’s expansion.

The company recently published, a Change of Directors’ Interest notice, in which it informed that its Director Grant Pestell, had disposed 69,777 shares on 1 February 2019, and 381,120 shares on 25 February 2019 via On Market Trade.

Now, let’s have a glance at the company’s stock performance, and the return it has posted over the past few months. The stock last traded at a price of $A0.058, up by 20.833% during the day’s trade, with a market capitalization of ~$9.93 Million as on 6 March 2019. The counter opened the day at A$0.048, and reached the day’s high of A$0.058, with a daily volume of ~ 1,812,249. The stock has posted returns of 37.14%, 65.52% & 45.45%, over the past six months, three, and one-month period respectively. It has noted a 52-week high price of A$0.092 and touched 52-week low of A$0.026, with an average volume of ~752,483.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.