- Technologies have been playing a pivotal role in combating the war against the spread of COVID-19 virus.
- The drone technology has proved its utility by helping authorities and people in different ways to prevent further spread of coronavirus.
- Currently, most businesses rely on the technology sector to operate remotely, requiring humungous amount of information resulting in increased demand for cybersecurity solutions.
- Companies such as archTIS and Mobilicom are addressing the needs of security solutions and drones, respectively, with numerous projects catering to different industries.
In this theater of war against an invisible enemy- coronavirus, frontline warriors and heroes are doctors, medical staffs, and local police force.
Technologies like Artificial Intelligence (AI), big data, cloud computing, machine learning are gaining prominence in this contemporary world. Moreover, drone technology is playing a pivotal role in combating COVID-19 pandemic.
Drones are utilised for solving numerous purposes such as surveillance, broadcast of messages, spraying disinfectants, temperature check, and delivery of critical supplies such as medicine and grocery.
Several companies engaged in drone technology are playing their respective roles in the wake of COVID-19, by coming up with innovative ideas to help the local governments.
Globally, companies and governments are highly concerned about the security of the information.
Amid social distancing norms, most of the businesses are relying on the technology sector to work remotely generating a massive amount of data. Further, cybercrime attackers are capitalising on coronavirus pandemic in a new and devilish way. This calls for solutions related to cybersecurity.
Did you read; Knock Knock! Cybercriminal at Your Doorstep
Let’s now enrich ourselves with the two ASX stocks acknowledging the area of information security and drone technology:
archTIS Limited (ASX:AR9)
archTIS is a Canberra-based technology company focused on safeguarding sensitive information. AR9 is engaged in developing products and services for safe information sharing.
AR9’s information sharing platform (Kojensi) offers a robust medium to share and collaborate on sensitive information.
Recently, the Company announced that one of its directors, Mr Daniel Lai changes his interest effective 15 June. The director acquired 36,364 ordinary shares at a value of AU$2,000.
First Defence Industry commercial contract with Northrop Grumman
On 18 June 2020, archTIS inked its first Defence Industry commercial contract with Northrop Grumman Corporation (NYSE:NOC).
Initially, Northrop Grumman bought 50 licences of the Company’s Kojensi cloud platform with annual recurring revenue of AU$ 35,455 to securely share information for its business development teams across Australia and the US.
Did you read; Is COVID-19 pandemic the mother of tech Innovation?
archTIS completed raising of funds worth AU$2.24 million
On 12 June 2020, archTIS announced the completion of its capital raising worth AU$2.24 million.
The capital raising comprised of Share Purchase Plan worth AU$590,750, consisting of an issue of ~10.7 million new shares at a price of AU$0.055/ share. Also, last month, Placement of AU$ 1.65 million comprising of an issue of new shares at a price of AU$0.055/ share, was completed in mid-May 2020.
The injected fund would be utilised to pace up the targeting of commercial Kojensi clients in the Defence Industry, Education and Space sectors.
The completion of Placement of AU$1.65 million on 19 May 2020, closely followed the Company’s contract gain Curtin University on the same day, representing Kojensi’s reach into expanding big data analytics space.
Stock Performance: On 26 June 2020, the stock of AR9 last traded at a price of AU$0.100, up by 5.263% compared to its last close. AR9 has a market cap of AU$15.32 million and approximately 161.31 million outstanding shares.
Mobilicom Limited (ASX:MOB)
MOB is a Melbourne headquartered high-tech company engaged in the development, designing, and delivery of communication solutions for remote mobile private networks and mission-critical ones that can operate without the need for any infrastructure.
MOB is comprised of two business units, namely, SkyHopper and Mobilicom.
- Mobilicom provides solutions for mission-critical communication in Enterprise and the Government sector.
- SkyHopper provides end-to-end equipment and solution that targets the commercial drone & robotics sector.
On 22 June 2020, Mobilicom announced that it had won Space Florida drone research project.
Along with the US drone Company Censys Technologies, MOB will embark on a two-year project to build a communications system for autonomous drone and UAS (unmanned aerials systems), with an objective to tackle the difficulties aviation authorities anticipate for secure drone and UAV operation in civilian airspace.
Initially, for the first year of research, MOB will receive funds of AU$770,000. This funding is part of a joint spending initiative between Space Florida and the Israel Innovation Authority.
Further, the aim is to establish a solution that will target civilian drone and UAS operations in three areas such as delivery, infrastructure inspection, security, and law enforcement.
MOB joins AI 5G consortium
ON 5 June 2020, MOB announced its selection for joining the WIN (Wireless Intelligent Networks) Consortium funded by the Israel Innovation Authority to execute a project valued at more than AU$4million.
This project is expected to be extended through 2021 and beyond.
Furthermore, the project is focussed on the development of wireless Al to facilitate the enhancement and optimisation of 5G.
Did you read; Is 2020 the year for 5G amid COVID-19?
MOB secured the new US patent
On 1 June 2020, MOB was granted the US patent for the technology used in its scalable mobile ad-hoc networks, covering 18 patent claims for differentiated Mobile Mesh algorithms and concepts built by MOB.
Furthermore, on 28 April 2020, MOB announced its robust business performance for the quarter ending 31 March 2020 and had a cash balance of AU$4.1 million.
On the financials front, the Company noted backlog of orders of over AU$2.1 million and expected to receive government grants worth AU$260,000 in the second quarter of FY’20.
Stock performance: On 26 June 2020, MOB last traded at AU$0.060, down by 13.043% from its previous close. MOB’s market cap was noted at AU$17.8 million and has outstanding shares of 257.94 million.