On 2 April 2019, Dragontail Systems Limited (ASX: DTS), a company engaged in optimizing restaurant operations announced that in the month March 2019, it has continued its monthly installation expansion at the rate of over 300 locations.
In the month of February 2019, Dragontail Systems installed its products in more than 300 stores and the installation in the month of March 2019 was the continuation of its last month installation momentum in expanding the install base of DTS.
The operations of the company in the previous month made a new record where there were up to 32 installations in a single day. The installation included the two flagship products of the company, i.e. the ALGO Dispatching Platform and the Artificial Intelligence QT Camera.
The company, as a part of its expansion program, has started the installation of Pizza Hut Australia’s stores after the short and effective integration process. The company believes that it will complete by the end of the year.
Mr Ido Levanon, who is the managing director of the Dragontail Systems Limited felt excited about the fulfillment of Dragontail’s potential. He stated that the installation of the products of DTS in hundreds of stores indicates that the company is capable both in terms of technology and in the operative sense.
On 29 March 2019, the company shared its final annual report to the shareholders for the period ended 31 December 2018. During the period, the company’s revenue increased by 350% to US$1,074,676. However, the loss increased by 51% to $7.04 million as compared to $4.66 million in the previous corresponding period. The balance sheet of DTS highlighted a fall in its nets asset base by 34.24% to US$4,004,979.
Let’s also take a look at the cash flow statement of the company where the report highlighted that the company used US$6,921,737 in its operating activities. The primary source of cash outflow was in the form of payment made to the suppliers and employees.
The company made payment to property, plant and equipment. Thus, the net cash outflow through the investing activities was worth US$64,996. The company also generated revenue through the issue of shares. Therefore, the net cash inflow through the financing activities was worth US$4,589,979. The cash and cash equivalent decreased during the period by US$2,619,739. The net cash and cash equivalent by the end of the period were US$3,784,678.
On 25 March 2019, the company announced that it was granted the patent for its Artificial Intelligence QT Camera by USPTO in the USA.
Even though the company made a significant loss in FY2018, however in the last six months, the shares of DTS have generated a decent return of 30%.
Today on 2 April 2019, with the market open, the opening price of the shares of DTS was A$0.205. At present, the shares are trading at A$0.190 (AEST 3:55 pm, 2 April 2019), down by 2.564% as compared to its previous closing price. The company has a market capitalization of A$48.36 million with approximately 248 million outstanding shares.
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